CBN Vows To Address Scarcity Of New Naira Notes

Central Bank of Nigeria (CBN) has assured Nigerians that it will address the issue of scarcity of new notes to meet the people’s demand.

Speaking during a sensitisation tour in about 10 communities in the State of Osun, the Deputy Director of CBN, Dr. Adedeji Adetona, stated that the management of the apex bank would do everything to address all issues relating to the scarcity of the redesigned naira notes.

The communities visited during the sensitization comprises Ikirun, Ila-Orangun, Okuku, Ijabe, Oke-Ila, Iree, Ora-Igbomina, Iragbiji, Agbaa and Konta.

Adetona advised Nigerians to visit nearest banks in there various communities to deposit all old denominations ranging from N200, N500, N1,000 notes.

He equally asked them to visit SANEF agents to deposit the old notes in order to meet the deadline of January 31.

Speaking with journalists, a trader in Ikirun, Mrs Yetunde Adebiyi, said nonavailability of the new notes might make it practically impossible to meet up with the deadline set by the CBN.

She explained that the commercial banks in the state have not made the new notes available to customers.

In her address, a trader at Iree market, Mr Isiah Adekunle, said he has only come in contact with one piece of the new N1,000 note, adding that most banks and galleries with Automated Teller Machines (ATMs) in his area do not issue the new notes to customers.

Adekunle said, “I only saw the new N1,000 like twice when a customer brought it to my shop. But all attempts to get it from banks were not successful. At least, I visit banks weekly but they still give out old notes.

“Most of the ATM galleries in my area do not issue the new notes.”

Also speaking, Mrs Awe Ruth in Ila-Orangun lamented that banks were not paying customers with the new notes as they were complaining of not having the redesigned naira notes, contrary to the message the CBN was preaching to Nigerians.

She begged the CBN authority to extend the deadline for the old notes in the interest of the traders, especially those in rural communities .