The Central Bank of Nigeria (CBN) on Friday urged the Asagba of Asaba, Prof. Chike Edozien, and the Asagba in Council to assist in educating the public about the redesigned naira notes.
Mr Samuel Okojere, Director of the Central Bank of Nigeria’s Banking Services Department, who led other officials to the Asagba’s palace in Asaba, stated that Nigerians must accept the redesigned naira notes as legal tender.
Okojere stated that the redesigning of the N200, N500, and N1000 notes was intended to combat corruption as well as the country’s security challenges.
”Almost 85 per cent of currency released by CBN are in the hands of private individuals.
”The essence of the introduction of the new redesigned naira notes, is to enable the money come back to the banking sector, ” he said.
Okojere appealed to the Royal Father to help educate his subjects and community on the need to change their old notes to the redesigned notes before the Jan. 31 deadline.
”We are here for the sensitisation of the entire community on the new redesigned naira notes, so that we can make them understand that it is a legal tender.
”The reason why we are doing this sensitisation is for the people to go and change their old naira notes at the bank before Jan. 31.
”The current old N200, N500 and N1000 notes will cease to be legal tender with effect from Feb.1 the new redesigned naira notes will replace them,” he said.
Okojere also said that Nigerians must key into the cashless policy of the apex bank.
Mr Godwin Okafor, the CBN Delta Controller, said that the same sensitisation programme was being carried out in other parts of the state.
“We visited some markets yesterday and today some of officials are in Agbor and Warri to also sensitise the people and traditional rulers,” he added.
Responding, the Asagba of Asaba, who commended the the CBN for the effort, urged the apex bank to monitor commercial banks for total compliance of dispensing the redesigned naira notes.
”A lot has been said about the redesigned naira notes in the last few months, but correct information is vital,” he said.
He advised the CBN not to hesitate to sanction banks who were found to be hoarding the redesigned naira notes.(NAN)
