Emir of Hadejia urges CBN to increase banks working hours; POS operators fears lost in Jigawa

From Ali Rabiu Ali, Dutse.

The emir of Hadejia Alhaji Alhaji Adamu Abubakar Maje, has urged Central Bank of Nigeria (CBN) to increase working hours of Banks with a view to allow people deposites their old currency notes.

Maje made the call during a town hall meeting with  to him by the CBN officials in his palace Hadejia, Jigawa state on Friday.

The emir who was represented by the senior councilor of his palace and Galadima Hadejia Alhaji AbdulAziz Zakari commended the effort of CBN for enlighten people on the importance of naira redesign.

Maje said 'banks don't put new currency in ATM point in Hadejia and the time is expiring', " CBN should address banks to immediately comply to the policy by given out new currency".

He then urged the general public to take their old N200, N500, and N1000 notes to bank or POS and get the new ones before January 31st 2023 to avoid lost.

In her part, director human resources of CBN Hajiya Amina Habib, said the benefits of the currency redesigned to Nigerian economy are enormous given that; " this policy will help to control inflation as the exercise will bring the hoarding currency into the banking system, thereby making monetary policy more effective"

" It will also help with better designed and implementation of monetary policy as we would have much more accurate data on money supply and monetary aggregate"

" We believe that this exercise would help in increasing financial inclusion, moving towards a more cashless economy, and ensuring greater formalization of the Nigerian economy" .

The head development finance  department of the Apex bank Mr. Abdu Amadu at 'yanleman of Kaugama local government during the enlightenment told the worshippers of the Yalleman Tijjanai Friday Mosque  danger of any delay in depositing an old currency in their custody.

Mr Abdu Amadu asked the public to patronize bank share agents and Point Of Sales (POS) and other means provide and certified by the central bank.

"Today is 20th, it's remains only 11 days from today, so the time is very limited considering the importance and urgency needed to avoid any lost of their moneys".

He said the federal government is serious about the deadline, there is no intention of any extension as directed by Mr President. 

The central bank team earlier met with the Point Of Sales (POS) operators and sensitized them of and extra responsibilities for opening bank account and depositing moneys to the people and customers.

The head of finance department appealed to those has no bank account to do so without further delay, "that would give good opportunities for so many economic and social government interventions".

"Part of the reasons for the redesign currency is to recieved back currency. For your information over 83 percent of currency is no in circulation. It is some where with public which is seriously affecting national economy.