CBN Takes New Stride To Circulate New Naira Notes
Afimag.com –
The Central Bank of Nigeria (CBN) has requested Deposit Money Banks (DMBs) in Zamfara, to release the new naira notes to Point of Sale (POS) operators or face sanction.
The CBN Controller in the state, Alhaji Buhari Abbas gave the charge on January 27, 2023, at a sensitisation training for POS operators in Gusau.
He said the criterion was crucial to reduce the difficulty by residents and business due poor circulation of new naira notes across the state.
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According to Abbas, the directive came against the back drop of public outcry over scarcity of the new bank notes, as traders and businesses in the area refused transaction in old naira notes.
He said the apex bank would not accept currency hoarding, warning that defaulters would be punished severely.
The controller urged the POS operators with banks accounts in Gusau, to access the new notes from the DBMs, and report erring banks.
According to him, the daily transaction limit for POS operators is N500,000, while N10,000 per individual bank account holders.
Buhari warned the POS operators to discontinue from charging customers above normal fee, warning that erring operators would would be arraigned.
“The old naira notes remain legal tender till midnight January 31, 2023,” he said.
Also, the Chairman, POS operators in the state, Alhaji Kabiru Abubakar praised the gesture, and pledged to cling to the normal cash withdrawal charge.
It was gathered that traders and some Nigerians have been rejecting the old naira notes as a result of hardship they faced in depositing it in the banks.