The Central Currency of Nigeria, CBN, has stated that there would be no going back on the January 31 deadline for the country to stop utilizing old bank notes.
Hajiya Sa’adatu Ibrahim, CBN Dutse branch controller for Jigawa State, mentioned this when she visited Dutse Central Market to sensitize traders.
Sa’adatu cited various reasons for the naira makeover, including the fight against corruption, inflation, fake money, insecurity, and currency hoarding.
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She warned that the apex bank will not tolerate any sabotage of the new naira policy’s implementation.
She urged businesses and the general public to continue taking the old notes until January 31 and to deposit them at the nearest bank in exchange for new ones.
Alhaji Yahaya Kwaimawa, chairman of the Jigawa Marketers Association, praised the CBN for its efforts in revamping the naira and implementing a new e-naira policy and cashless policies.
He stated that the new policies will aid in the reduction of armed robbery and money laundering in Nigeria.
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