Ahead of the 31st January, 2023 deadline, the Central Bank of Nigeria (CBN) has said it will sanction commercial banks who fail to dispense the new naira notes through their Automated Teller Machines (ATM).
Speaking at a sensitisation for traders at the Abubakar Mahmud Gumi Market, Barnawa and Sabon Tasha markets in Kaduna State, the CBN Director of Capacity Development, Muhammad Abba noted that the CBN will also sanction the banks found to be hoarding the money from customers noting, “There is enough money.”
He appealed to the traders to ensure that their old notes are deposited at the commercial banks before the deadline stressing that there will be no extension of the 31st January, 2023 deadline.
Chairman of the Kaduna Market Development Association, Abdulrahman Muhammad, urged his members to deposit their old naira notes for the new ones to beat the deadline.
Meanwhile in Edo State, customers, who visited some banks’ ATMs said they cannot withdraw above N30,000 with a limited amount of the redesigned naira.
Our reporter who visited some of the ATMs in Benin metropolis observed the dispensing of both the new and old notes.
Joy, a bank customer, at the Agbor road, said that her plan was to withdraw N100,000 but, unfortunately, the ATM couldn’t pay her more than N30,000.
Another customer, Osahon Idemidia said: “This is the second bank I went to that was not dispensing old notes but pegged each withdrawal at N30,000. Most people who came to withdraw N40,000 and above have abandoned the ATM to join the queue in the banking hall,” she said.
From Maryam Ahmadu-Suka (Kaduna) & Usman A. Bello (Benin)
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