In order to give customers more access to the new notes, the Central Bank of Nigeria said it distributes N30 million in new notes each day to each branch of a bank in Bauchi State.
This information was made public on Monday by an officer of the apex bank, Mr. Abdulkadir Jibrin, who was in Bauchi checking banks to make sure citizens of the state had access to new naira notes.
He stated that the exercise’s goals were to make sure that the new naira notes were available in the banks and to make it simple for the locals to swap their old notes for the new, redesigned ones.
“Only N10,000 and below could be exchanged per person and if the amount is more than that, one should open a bank wallet.
“Daily each branch across the state receives N30 million to ensure their Automated Teller Machines are stocked with cash for individuals to withdraw,” he said.
But he urged the populace to use the deadline’s extension to February 10 to deposit their old currency with banks in order to prevent financial damage.
He added that the ATMs were checked as part of the monitoring activity to make sure that the new naira notes were loaded and available for clients to withdraw.
He said; “It’s just a window for the citizens that are yet to take their money into their accounts to do that and then those that have N10,000 or less.
“Our committee would continue to reach out to localities to ask them to bring out their old notes and exchange them with the new ones.”
According to him, the ATMs will allow individuals to obtain money and that apex bank authorities monitor the amount of money that is disbursed via the ATMs.
In the case that any bank refused to open for business or failed to distribute the new notes through their ATMs, he asked the general public to inform the CBN.
