CBN warns banks against issuing old banknotes; EFCC, ICPC to monitor compliance
As the new deadline for the phase-out of the old naira notes approaches, the Central Bank of Nigeria has ordered banks to stop paying customers old N1,000, N500, and N200 notes.
CBN governor Godwin Emefiele announced in a statement that the apex bank was collaborating with the Economic and Financial Crimes Commission to ensure that all banks abide by the directive.
“We deployed all our staff, particularly the assistant directors, deputy directors and directors in Abuja to proceed to all CBN branches nationwide to join the mass mobilisation campaign and monitoring programmes, working with the deposit money banks, agents and our branch controllers across the 36 states of the federation,” said Mr Emefiele.
The CBN governor added, “We have agreed with the executive chairmen of the EFCC and ICPC to assist us by sending their staff to all CBN and DMB branches nationwide to join in monitoring the implementation of these guidelines. The aim is to ensure compliance with the laid-down guidelines.”
The directive came as Nigerians struggled to withdraw the new naira notes.
President Muhammadu Buhari’s regime had set January 31 as the deadline to replace the old banknotes with the new notes. The deadline has been extended.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Heading 5
Security agents kill suspected kidnapper, rescue two men abducted on Lagos farm
The army said that the remains of the dead kidnapper were handed over to the police for appropriate action.
States
Police uncover drugs concealed in car tyre, apprehend two suspects in Oyo
The command noted that the suspects would be charged to court upon conclusion of investigation.
World
Airstrike hits WHO warehouse in Ukraine, destroys medical supplies, equipment
Mr Lindmeier stated, “The attacks are part of a broader pattern affecting humanitarian operations across the country.”
Education
Expert urges GIS professionals to leverage AI for skills development
Mr Afolayan stressed the need for proper understanding and adoption of AI to address local issues effectively.
NationWide
Stock market closes week with N405 billion gain
The sustained rally further strengthened the year-to-date return to 58.72 per cent.
NationWide
2027: Tinubu-Shettima movement develops plan for grassroots mobilisation
The committee explained that the movement’s communication and administrative infrastructure was being strengthened.
