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CBN sensitize traders on new naira notes in Akure, Ilorin

The Central Bank of Nigeria , CBN has  sensitized  market women and traders in Akure on the new naira notes.

The acting branch controller  of CBN in  Ondo State Mr Giwa Ademola enjoined traders not to reject the new naira notes.

He said the notes had become legal tender and now an offense to reject them.

Mr Ademola also told the traders to  ensure they differentiate between original and fake notes.

He informed that the old naira notes would cease to be legal tender on the 31st of January ,2023.

Some of the traders, Mrs Banke Omotosho, Elesare of Akure and Oluwatosin Adesida applauded the CBN for the sensitization noting that they were now better informed

Mrs Blessing Gold however called for extension of the deadline to enable more people to have access to the new naira notes .

Wise practice to change currency

Similarly, the Central Bank of Nigeria, CBN, has began a two day sensitisation campaign on the new naira notes to traditional rulers, markets in Ilorin, Kwara State.

The sensitization program commenced from Balogun Fulani, to Emir of Ilorin, His Royal Highness, Dr Ibrahim Sulu Gambari, to Oja- Oba, Baboko market, Obbo road market and Yoruba road market to create awareness on the need to take the old naira notes to the bank before the expiration of the deadline on Thirty-first of January.

The CBN Sensitization team on new naira note at the palace of the Emir of Ilorin, Alhaji Ibrahim Sulu-Gambari.

Addressing marketers, CBN Ilorin, Branch Controller, Mr Najimu Lamidi said that it was a wise practice to change currency every five to eight years to tackle counterfeiting of the currency.

Mr Lamidi further noted that CBN detected that about Eighty-five percent of the currency are not in bank’s vault, hence the need to know how much money is in circulation.

He urged market women and men not to reject the new notes of 200, 500 and 1000 as legal tender, stating that security features have been included for easy identification of fake notes.

While encouraging people in the rural areas to go to their nearest local government to deposit the money, Mr Lamidi maintained that only the Automator Teller Machines, ATMs could dispense new notes as withdrawals over the counter are of the old notes.

In a remark, Emir of Ilorin, Dr Ibrahim Sulu Gambari charged CBN officials not to rest on their oars as fraudsters have wide knowledge on how to produce counterfeits, hence need to device measureson how to protect the currencies.

The campaign also paid homage to the Balogun Fulani of Ilorin, Alhaji Abubakar Sidiq-Atiku.

Reporting by Abiodun Akinluwa and Fatihat Olaitan; Editing by Fany Olumoye and Abdullahi Lamino