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CBN Takes Sensitisation On New Naira Notes To Major Markets In Calabar


Ahead of the January 31, 2023 deadline for the use of old Naira notes, the Central Bank of Nigeria (CBN) has taken its sensitisation campaign to major markets in the Calabar metropolis.

Glory Iniunam, the Branch Controller, CBN Calabar, led the sensitisation campaign.

She explained that the essence of the exercise was to keep people informed on the new Naira notes as well as the deadline for the use of the old notes.

The sensitisation drive took the CBN team to the Watt Market, Etim Edem Park, Bogobiri, Marian market, Ikot Ishie Market and 8 Miles Market.

The branch controller said the deadline for the use of the old notes remains the end of the month and they will cease to be legal tender on the first day of February, 2023.

“What we are here for is to sensitise the people on the acceptance and the deadline for the new redesigned naira to let them know that as at 31January 2023, the old note will cease to be a legal tender and as at 1st February 2023, the new note will come to being completely and we are not going to use the old note anymore.

“Any one that has the old note should take it to the bank before 31st January 2023 and get the new notes.

“If you are going over the counter, we are still giving the old notes, the reason being that it is the ordinary people that use the ATMs and we want the money to get into circulation.

“You can still collect the old note from over the counter and use it but before the 31st of January, take it back to the bank and they must have received enough so they can give it to you,” she said.

She warned commercial banks within the state that it is a sanctionable offence to load old notes in their ATMs, saying the CBN will be conducting spot checks to identify defaulting banks and subsequently sanction them.

“There are sanctions for ATMs still dispensing old notes.

“If there is anybody dispensing old notes, we are doing spot checks and are going to do another one today, tomorrow and by the weekend.

“Any ATM dispensing old notes, we will make a report and there are sanctions for them,” she said.

She advised people in remote villages and communities without financial institutions across the state to come together and write to the bank so that POS agents will be mobilized to such areas.