New naira: CBN sensitizes market in Gombe

The Central Bank of Nigeria (CBN), Gombe State office, has taken its sensitisation on the newly redesigned naira notes to Gombe Main Market, urging traders to deposit old notes before Jan. 31.

Speaking during the event on Tuesday, Shehu Goringo, CBN Branch Controller, Gombe State, said the essence of the sensitisation was to engage stakeholders at the market on the new policy of the bank.

Goringo said the message of the sensitisation was to inform the public about the newly redesigned naira notes and also to inform them on the need to deposit the old notes before the deadline.

According to him, part of the sensitisation is to inform traders and residents on how to identify the original notes using the unique features of the new naira notes.

On allegation of shortage of the new notes, the CBN official said “there is no shortage of the new naira notes; we have them and we are moving them out.

“We have received directives to issue out the new notes and we are complying with it,” he said.

Also, Mr Shamsuddeen Zubairu, the Senior Manager, Currency Operations Department, the CBN Directorate Headquarters, said the new policy by the bank was a good monetary policy for the country.

Zubairu said the redesign of the naira notes was long overdue and a necessary policy that would help address some of the challenges of insecurity as well as bridge the financial inclusive gaps.

“The redesign of the naira notes will improve our monetary policy transmission mechanism and improve our financial inclusion drive,” he said.

Mrs Adaline Patari, the state Director, National Orientation Agency (NOA) urged Nigerians to embrace the new policy of the CBN, adding that “whatever the government does is for the good of the people.”

Patari told the leadership of traders to take the message down to the grassroots by sensitising their members and women on the need to comply with Jan. 31 deadline.

The Chairman of Traders Association of Nigeria, Gombe State chapter, Sanusi Abdullahi commended the CBN for bringing the sensitisation to them.

Abdullahi said the gesture would go a long way in ensuring proper dissemination of information on the new naira notes.

He advised his colleagues to always accept the new notes, “those rejecting the new notes and saying it is fake; please know that the money is real and has come to stay.”

Supreme reports that the newly-redesigned N1000, N500 and N200 bills became legal tender on Dec. 15, 2022.

The Central Bank of Nigeria Governor, Godwin Emefiele, on Oct. 26 announced plans to redesign the denominated notes, saying the old notes would cease to be legal tender by Jan. 31, 2023.

Supreme reports that a highlight of the event was a demonstration by CBN officials on how to identify fake notes using the new and the old notes.

Also, participants were given opportunities to ask questions about the new policy which officials of the CBN responded to.

The participants which also included point of sale (POS) agents and officials of some of the commercial banks in the state were sensitised on the need to also embrace the eNaira.