The Central Bank of Nigeria (CBN) has said there is a huge circulation of the new naira notes in the economy. The CBN Lagos Branch Controller, Godfrey Koyor, said this during a stakeholder sensitisation event on the currency redesign at the Balogun market in Lagos on Tuesday.
He also expressed the determination of the CBN to maintain the January 31 deadline to phase out the old naira notes.
He said, “We are giving everyone the assurance that the new naira notes are available and available to everyone. We are distributing through the banking system. And as the transaction takes place, you are going to be having the new ones.
“So as people are giving out the old notes, they will be receiving the new notes. We have pushed a lot of the new redesigned currency notes into circulation and it is going round.” He added, “I am assuring you that if you go to the ATM, you will get the new notes.
The essence of giving the directive that the new naira notes should be dispensed through the ATM is so that they will be available to people during working hours and off working hours.
