CBN sensitises Balogun market traders on Naira redesign in Lagos

Central Bank of Nigeria (CBN), on Tuesday, sensitised market traders on Naira Redesign at the popular Balogun market in Lagos.

The CBN Lagos Branch Controller, Godfrey Koyor gave assurances on the availability of new notes; hence, the distribution through the banking system, noting that the new ones would be given as transaction takes place.

He explained that people will be receiving the new notes as they are giving out the old notes, adding the bank has pushed a lot of the newly redesigned currency notes into circulation.

“We are giving everyone the assurance that the new naira notes are available and it is available to everyone.

“We are distributing through the banking system. And as transaction takes place, you are going to be having the new ones.

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“So as people are giving out the old notes, they’ll be receiving the new notes. We have pushed a lot of the new redesigned currency notes into circulation and it is going round,” he said.

Speaking on calls for an extension of the deadline, he said the deadline still stands as no changes had been made to it.

“Right now, the deadline is 31st of January and it is not changing.

“We haven’t changed the deadline. As I speak with you, the deadline remains sacrosanct and what we are asking the public and the banks to do to surrender the old notes and take new ones.

“We have new notes enough in supply we have enough. Give us the old notes you have your possession, give it out, deposit it to your bank, let your bank bring it to us and collect new notes. We have enough of the new notes available for every Nigerian and we are supplying it,” he said.