PEOPLE’S GAZETTE
Godwin Emefiele, the governor of the Central Bank of Nigeria, says the CBN has super agents in locations around Sambisa to exchange old naira notes for new banknotes.
“We have 1.4 million points of our super agents; those agents are going to be available to conduct cash exchanges. The super agents are like kiosks, shops in your community, whether it is a riverine or upland area,” stated Mr Emefiele. “They are there, selling sweets, selling kola nuts, but they have been appointed as agents that will do cash exchange and cash swap for you. This, we have put in place.”
The CBN governor added, “We have some information and videos about our staff and agents doing cash swaps in our communities. In areas like Baga, Monguno, Rann on the Lake Chad Basin, in Banki, Kirawa, Gwoza on the borders of Cameroon, Ngoshe, Bama, Chibok, Damboa, Ngala, Izge…all these are areas around the Sambisa. Our agents and our staff are all there conducting cash swaps and exchanges of old to new currencies.”
Mr Emefiele disclosed this on Tuesday after the apex bank’s Monetary Policy Committee (MPC) in Abuja.
Last October, Mr Emefiele announced a plan to redesign Nigerian currency (the N200, N500 and N1,000 denominations), claiming over 80 per cent of the banknotes are hoarded.
The new N1,000, N500 and N200 bills became legal tender on December 15, 2022.
Mr Emefiele said the old notes would cease to be legal tender by January 31. However, the new notes have been scarce in circulation.
