The Central Bank of Nigeria (CBN) has begun monitoring Commercial Banks and Automated Teller Machines (ATMs) in Bauchi, to ensure the dispensation of new Naira notes to customers in the country.
The News Agency of Nigeria (NAN) reports that CBN Officials are monitoring all banks in the Bauchi metropolis to ensure that ATMs dispense the redesigned notes to customers.
Dr. Abdulkadir Jibrin, the Director, CBN Medical Services, who led top bank officials to monitor the money deposit banks and ATMs in Bauchi Metropolis, said the new Naira notes have now flooded the banks.
They said they are monitoring operations, especially ATMs, to ensure that they only dispense new notes.
“We are monitoring all the banks and ATMs in the country and making sure that they issue new notes
“This is in line with the efforts of the CBN to ensure that the new notes go round and reach the citizens,” he said.
According to him, “our reason here in Bauchi is to go around the bank branches and ensure that the banks give new naira money.
“To ensure that banks issue new notes in ATMs because that is the only democratic way you can serve the currency to Nigerians.
“Currently, all machines provide new notes of various denominations. It is very impressive, we hope this continues,
He said that he met traders and cattle dealers to sensitize them on the redesigned notes as well as the last date for using the old notes.
He urged residents to follow the instructions given and ensure that they take their old notes to the bank before the January 31 deadline to avoid losing money.
Jibrin explained that the CBN’s decision to redesign the top three Naira denominations of N1000, N500, and N200 is in the interest of the Nigerian economy.
He advised the public and traders to accept the old notes, which are still valid till January 31.
The director said the goal is to promote cashless policies and reduce the amount of cash outside the banking system.