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New naira: no backing out of deadline – CBN warns Jigawa residents

The Central Bank of Nigeria, CBN, has said there is no going back on the January 31 deadline to stop using old banknotes in the country.

CBN Dutse Branch Controller, Jigawa State Hajiya Sa’adatu Ibrahim said this when she visited Dutse Central Market while educating traders.

Saadat gave several reasons why the naira was redesigned, which included combating corruption, inflation, counterfeit currency, insecurity, and hoarding.

It stated that the main bank would not allow any subversive act in implementing the new naira policy.

It called on businessmen and the general public to continue accepting the old currency until January 31 and not to delay in depositing old banknotes in the nearest bank in exchange for new ones.

The President of the Jigawa Marketers Association, Alhaji Yahya Kwaimawa, commended CBN for its efforts in redesigning the naira and enforcing the new e-naira and cashless policies.

He said the new policies will help reduce armed robbery and money laundering across Nigeria.

New naira: no backing out of deadline – CBN warns Jigawa residents

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