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New naira deadline: CBN monitors compliance in A’Ibom

The Central Bank of Nigeria has begun steps to ensure that banks in the country meet the January 31 deadline for the circulation of old notes across the country.

In accordance with the directives, the apex bank branch in Akwa Ibom State dispatched a team of its personnel to various commercial banks in Uyo on Thursday to monitor compliance throughout the state.Information Guide Nigeria

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While two of the CBN teams visited various banking locations on different streets throughout the state, the third team visited some markets to educate market women on CBN policies.

First Bank of Nigeria, Zenith Bank, Access Bank, Fidelity Bank, Guaranty Trust Bank, United Bank for Africa, and Union Bank of Nigeria are among the banks visited, all of which are located at Banking Layout, Udo Udoma Avenue.

Unity Bank, Access Bank, the FBN, Ecobank, and Wema Bank were also visited, all of which are located on Aka Road in Uyo, the state capital.

On Abak Road, another group went to Sterling Bank, Zenith Bank, the FBN, the UBN, the UBA, Globus Bank, SUNTRUST Bank, Keystone Bank, Access Bank, Polaris Bank, the GTB, First City Monument Bank, and Fidelity Bank.

While the majority of the banks visited had begun to comply with the new directives, a few others had yet to fully comply as some customers complained of a lack of cash.JAMB Result 

“I have been around since morning but I can’t withdraw because they are telling us that there is no cash,” he said, calling on the officials of the CBN to address the issues.

However, most banks were dispensing the new banknotes at their ATMs, with the exception of a few Zenith Bank and Sterling Bank branches, particularly those inside the University of Uyo Teaching Hospital, which were still dispensing the old notes both over-the-counter and at ATMs.

Customers were paid from their counters despite the fact that Keystone Bank and First Bank’s ATMs were not dispensing.

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Some banks even cited a lack of new notes as the reason they did not load cash into some of their ATMs.

Meanwhile, the CBN has been praised for its ongoing education campaign to encourage Nigerians to embrace the new currency redesign policy.Jamb Portal

The accolades were given when officials from the CBN’s Akwa Ibom State branch took the new naira note sensitization tour to Itam park and Itam market in Uyo.

The CBN officials, led by Mr. Ekanem Akpan, Deputy Director, of the Abuja office, and Mr. Isang Agbomi, Assistant Director, Head of Banking, Uyo branch, visited the park and market with thousands of flyers for the sensitization exercise.

Some of those who responded said they were pleased to see CBN officials visit the park and market to educate the public about the country’s new monetary policy.

Mr. Emmanuel Udoh, a driver, stated that the people did not have the authority to reject the redesign naira notes because it was a government directive and policy, but he regretted that members of the public might not be able to meet the January 31, 2023 deadline and thus requested an extension to the month of March.NYSC Portal

A trader at the Itam market, Rose Michael, who said since the introduction of the new currencies she had not seen how they looked, tasked the management of the CBN to make “commercial banks and other monetary outlets stop dispensing the old naira notes to customers for easy penetration of the new notes in the society.”

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Emediong Ekpe

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing.

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