\n
\u00a0<\/p>\n
On Wednesday, the CBN urged citizens to create savings accounts and swap their old Naira notes at POS machines.<\/p>\n
\u00a0<\/p>\n
Advice was offered by Mrs. Rasheedat Mangunu, Director of Protection at the CBN, during a recent monitoring exercise of POS super-agents in Ilorin.<\/p>\n
\u00a0<\/p>\n
According to the News Agency of Nigeria (NAN), on January 25, the CBN gave 30,000 super-agents POS systems and N500,000 in cash to facilitate the Naira cash exchange.<\/p>\n
\u00a0<\/p>\n
According to Mangunu, the money exchange has advanced in the last week thanks to their enlightening conversations and approved POS agents.<\/p>\n
\u00a0<\/p>\n
She went on to say that the extension of the deadline for using the old Naira notes has allowed additional time for customers to make the exchange and deposit the old money into their accounts.<\/p>\n
\u00a0<\/p>\n
She encouraged residents of Kwara, particularly those living in rural regions, to make good use of the super-agents available to them so that they may create a bank account with no hassle.<\/p>\n
\u00a0<\/p>\n
Through the POS super-agents, customers just need their National Identity Card to create a bank account and deposit their old cash.<\/p>\n
\u00a0<\/p>\n
She assured them that their old Naira notes would be safely deposited by our \u201csuper-agents\u201d into their different bank accounts at no cost to them.<\/p>\n
\u00a0<\/p>\n
According to the Nigerian News Agency (NAN), a user named Mr. Sadiq AbdulRasheed said that he was able to swap his old Naira notes at one of the POS centers visited in the Osere Area of Ilorin at no cost to himself.<\/p>\n
\u00a0<\/p>\n
In the Alore Area of Ilorin, however, many locals have been griping about the lack of availability of the new notes, making it impossible to make an exchange.<\/p>\n
\u00a0<\/p>\n
Agent Saheed AbdulRazaq, who we spoke with, said he had been in contact with locals since last week but had been unable to satisfy their requests.<\/p>\n
\u00a0<\/p>\n
Last week, CBN gave me N500,000 to start exchanging notes, and I\u2019ve been doing so ever since. However, the locals are demanding even more fresh currency.<\/p>\n
\u00a0<\/p>\n
Their need for fresh currency exceeds my ability to get it out of the bank. The CBN should provide further instructions to commercial banks so that their customers may withdraw larger sums of money, he said.<\/p>\n
\u00a0<\/p>\n
CBN\u2019s director of protection responded by saying that the would work with all financial institutions and ensure that agents had access to sufficient funds.<\/p>\n
\u00a0<\/p>\n
She promised the public that all Ilorin banks would be able to keep their funds and that they would be able to withdraw them whenever they needed to.<\/p>\n
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\u00a0 On Wednesday, the CBN urged citizens to create savings accounts and swap their old Naira notes at POS machines. \u00a0 Advice was offered by Mrs. Rasheedat Mangunu, Director of Protection at the CBN, during a recent monitoring exercise of POS super-agents in Ilorin. \u00a0 According to the News Agency of Nigeria (NAN), on January […]<\/p>\n","protected":false},"author":1,"featured_media":12901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-12900","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nigeria-news"],"yoast_head":"\n
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