Barely three days to the January 31 deadline for old naira notes exchange, the Central Bank of Nigeria (CBN) has engaged 200 agents to fast-track its cash swap policy in Jigawa.

The CBN on Monday embarked on a currency swap programme in rural communities as part of plans to phase out old naira notes and enhance the collection of new banknotes.

The programme is being implemented by the CBN official monitors and Deposit Money Banks (DMBs).

The Director Human Resource, CBN Headquarters, Amina Habib, stated this at a news conference on Saturday in Dutse.

She said the daily cash swap limit is N10,000 and transfer per head; adding that amount above N10,000 would be considered a deposit.

The gesture, she said, aimed to increase circulation of the redesigned naira notes, especially in rural areas.

“Within Jigawa state, we have about 200 agents engaged because we’ve noticed that in rural areas, we have unbanked communities as banks have no physical presence in those area, hence the need to have agent banking services.

“The agents are actually representing the banks in those communities providing financial services to the people like opening accounts, accepting monies on thier behalf so that the rural dwellers are able to lodge or withdraw,” she said.

The director further urged residents of the state to use mobile apps, like transfer, and Point of Sale (POS), amongst others, for cashless transactions.

According to her, the apex bank will encourage people, especially rural dwellers, to open bank accounts to enhance financial inclusion.

On alleged rejection of the old naira notes by some traders and PoS operators, Ms Habib warned that the old notes remain legal tender until January 31.

“The CBN has done a lot and is still doing a lot in terms of sensitisation that the old notes are still legal tender up to January 31.

“You should still accept it as legal tender and be able to deposit them in banks”.

(NAN)