Despite a directive by the Central Bank of Nigeria (CBN) to banks to load their Automated Teller Machines (ATMs) with the redesigned naira notes, financial institutions in many states are still giving their customers the old notes, Daily Trust reports.

The CBN on Thursday asked the citizens to reject old naira notes from commercial banks, insisting they cease to be legal tender on January 31.

The apex bank had since Friday, January 12, asked banks to stop giving customers old N1, 000; N500 and N200 notes but checks by our correspondents in many states revealed that most of the banks have not complied.

Deputy Director, Currency Operation, CBN, Rekiyat Yusuf, made the call for Nigerians to reject to old notes in Lokoja, Kogi State Capital, while sensitising market men and women about the redesigned naira notes.

She said any bank caught dispensing old notes to customers henceforth would be sanctioned.

She was responding to a concern by a customer that banks were still dispensing old naira notes via ATMs.

She said, “If banks give you old notes, reject it and return it to them and report the bank to us immediately for appropriate action. We have given them enough new currency notes to dispense to replace the old ones in circulation.

“There is no reason for banks to still be stocking their automated teller machines with old notes as the apex bank has made enough redesigned notes available for dispensing to members of the public. Any bank caught would be made to face appropriate sanction.”

Similarly, CBN Director of Currency Operations, Ahmed Bello Umar, who addressed traders at the Katsina Central Market yesterday, said the CBN had enough new naira notes, which had since been distributed to commercial banks for onward disbursement to their customers through ATMs.

He noted that the CBN had last Friday “Directed that all ATMs must carry only new notes. If the banks don’t have the new notes, they should not load the old notes.

“We’re going round towns and cities in Nigeria to ensure that all the ATMs are loaded with new notes. And there’s relaxation on the policy, they can dispense any of the notes either N1, 000, N500 or N200 notes.


ATMs dispensing old notes in Lagos, Kano, Nasarawa, Sokoto, others

Our correspondents, who visited some of the ATM points in Lagos, Kano, Nasarawa, Sokoto and Adamawa states yesterday, observed that most of the machines were still dispensing old notes; while some mixed them with new ones.

Traders in Kano State, including those at the popular Wapa Bureau de Change market, expressed fears over the CBN’s deadline on the old naira notes. They said their clients were rejecting the old naira notes.

Some of the forex dealers, who spoke to Daily Trust yesterday when CBN officials went to the market to sensitise traders on the deadline, lamented that the new notes were not available in most of the banks.

Traders at Galadima, Sabongari, Kantin Kwari, Wambai and Kurmi markets also complained of the scarcity of the new notes.

The chairman of the Sabon Gari Market Traders Association, Alhaji Sule Umar Kura urged the CBN to make the new notes available to commercial banks.

The CBN Kano Branch Controller, Umar Ibrahim Biu, also said defaulting banks would be sanctioned.

But when our correspondent visited some ATM points in Kano, it was discovered that none was dispensing the new naira notes.

The Unity Bank’s branch on Lagos Street, which shares the same fence with CBN office, was not dispensing cash on both ATM around 6pm. This situation is also similar to First Bank’s branch opposite CBN’s office on the same street.

At Zenith Bank’s branch on Zoo road, it was discovered that the machines, about four of them were all dispensing old naira notes.

The CBN Kano Branch Controller, Umar Ibrahim Biu said the apex bank would not hesitate to sanction commercial banks that are hoarding or frustrating the policy.

He said the Apex bank had also directed commercial banks to desist from payment on the counter as part of efforts to check favouritism of customers.

In one of the banks at the University of Lagos, one ATM dispensed new notes of N, 000 mixed with N500 notes while others were dispensing old notes.


Cattle traders reject new notes for fear of counterfeiting

Cattle traders at the weekly Mararraban Liman Katagum market in Bauchi State, during the sensitization by the CBN officials yesterday, appealed for extension of the Naira Redesign deadline, alleging activities of Point of Sale (POS) fraudsters targeting unsuspected Fulani herders and others in the state.

Chairman, Mararraban Liman Katagum Cattle Traders and Dealers (Sarkin Tike) Association, Hashimu Isah, said many fraudulent POS operators had flooded local markets swindling herders who brought cattle to the market for sale.

Responding, CBN Controller in Bauchi, represented by Director, Medical Services, Abdulkadir Jibril, said the apex bank’s Consumers Protection Department had deployed ambassadors and agent bankers to liaise with local leaders to ensure imposters do not cheat the rural dwellers.

“Through these agents, appropriate actions will be taken to ensure that people get their monies safely into the banks without necessarily going to commercial banks inside the cities,” he said.


Reconsider January 31 deadline, Sultan urges CBN

The Sultan of Sokoto, Muhammadu Sa’ad Abubakar, yesterday advised the CBN to reconsider the January 31 deadline on the naira policy.

He gave the advice in his palace while receiving the CBN Comptroller in charge of Sokoto State, Dahiru Usman, who led officials to intimate him and seek his advice on the redesigned naira notes.

He said: “We still have people who don’t know that our naira was redesigned. They could reject the new naira notes when given. If they see the colour, they will think it is a fake currency.

“The CBN ought to have considered stakeholders right from the day the redesign was announced. We have credible means to step down the information to the common man because the conventional media is for the elite.”

The sultan also cited insecurity, saying some people could not move large sums of money from their villages to banks in the city because they could be robbed or kidnapped along the way.


No going back on deadline -CBN

Meanwhile, the CBN yesterday insisted there would be no going back on the January 31 deadline for phasing out the use of the old naira notes.

Team Leader, CBN Monitoring Team Group C, Owugar Comfort Akinbode, reiterated this while answering questions from journalists in Makurdi, Benue State Capital.

She said: “We want compliance in all the states of the federation and the Federal Capital Territory. That’s why our team is here. We want the money to get to the masses; that is why we are very interested in this exercise, especially to check their ATMs, to see if they’re dispensing the new notes.”

She said the pay points of the banks visited, including Access and Union Banks were dispensing the new notes.

https://dailytrust.com/despite-cbns-directive-bank-atms-still-dispensing-old-naira-notes/

The banks are working with political parties to frustrate distribution of the new naira notes.

Nothing more.
Banks that used to fear CBN, now don't care all of a sudden. While CBN governor is been chased around by DSS.

The same DSS was nowhere when he bought presidential form.

Clueless government. Anybody just Dey do Wetin dem like.

Politicians are collecting all available new Notes ahead of next month election.


Vote Peter Obi for President.


Meanwhile sell your Pi to us at a good rate.

Nigeria is just an anyhow country.

It's obvious that those political criminals who have stockpile stolen old note are busy mobbing up the new notes with the help of bank staffers.

Pathetic country.

This is serious.

They're in collusion with the theifing politicians

That is the problem with this country.


Imagine with the kind of health Buhari allegedly has - at least he has a hold of himself and his senses, and can speak without drooling off and tasting microphones.

The country keeps looking like it's being run on autopilot. We don't know who gives the orders, and we don't know who orders are to be taken from.

Now imagine if someone like Tinubu who has lost cognitive use of his sense of reasoning and is down with old age syndrome, comes into power.

Have you imagined what this country will look like??

Now, touch the tip of your thumb and index fingers of your right hand together. Raise that right hand over your head, and swirl it in a circular fashion.

As you complete a circle above your head, thrust the same right hand towards the ground and snap both fingers against each other as you say words like "Tufiakwa! Aru emekwa!! Oloun maje!!! God forbid!!!"

Nigerians are the problem of Nigeria

What will it take for the banks to put the new notes in their atm, always want to stress the common man

It’s really sad that some people don’t want to see Nigeria progress at all. �‍♂️

Obidatti is the way

I'm not surprised though.

I drove all the way to gt bank to get new notes from their atm

They were still Dispensing old notes as at yesterday

They said they don't have the new notes from CBN

Cbn said they are begging banks to collect the new notes

One of them is obviously lying

Who we go come believe now

Politicians are evacuating the money

Ok

CBN na werey dem be na

It is sad
I believe these banks are using that for dubious reasons

It is what it is.

Money we no reach

How much them print....

The better we all rise and kick APC out, the better for us all.

Obi is coming to rearrange and liberate this country that APC and PDP has completely destroyed

Man tire

CBN is useless , I can see reason why DSS is chasing their master, the stupidity wey him go don cause within background of the economy go even reach make DSS jail him for life. The man has proven DSS right, infact DSS slow in handling him

sad


Politicians are playing a game of stashing the new naira notes for election purposes.

The banks are playing a game of collecting kickbacks in place of helping these politicians distribute the old notes.

The only language they understand is fine, slam them something big....but they're quick to implement deductions from customers account. Criminals

I don’t understand why the ATM still dispense old cash by now. It seems nobody is in charge. If Nigeria was a country, all the managers would have been sacked.

It is well.

Islie:


https://dailytrust.com/despite-cbns-directive-bank-atms-still-dispensing-old-naira-notes/

Nothing is obeyed under APC, all the banks still giving old notes.

Nigeria is a joke wallahi

The Bank for here the Ojoro wey dem dey do be say if you tried withdrawing 1k na new Note immediately you entered like 10k 9k will be old notes while only 1k will be new note awon werey

According to one banker that I asked,he told me Emefiele is just playing media game that 99% of cash they have is old naira notes and Emefiele knows about it but won’t stop clamouring for new naira note which means he is intentionally decieving Nigerians.
They are not getting new naira notes from centra bank

Even by the first week of February, many banks and individuals will still have loads of the old currency.

CBN never serious about enforcing their directive.

That's why I do my best to carry less cash these days.