ATMs: Banks Should Stop dispensing Old Notes And Start With The New Naira Notes. CBN

Mr. Kofo Salam-Alada, the Director of the Legal Services Department of the Central Bank of Nigeria, said the agency will go tough on banks that continue to fill their ATM machines with old naira notes as the deadline to phase out the notes nears.

He said they are already monitoring banks that are still dispensing old naira notes from their ATMs.

Godwin Emefiele, spoke during the event on the new naira notes in Computer Village Market, in Lagos on Wednesday.

I can tell you today that the CBN on daily basis issue out the new notes, even as we speak, banks are with the CBN taking money, we have ask banks to come and take money from Central Bank.

We have these new naira notes in our vaults and we are begging banks to come and take it.

Now a lot of things are happening that we need to look at, so we stopped withdrawal of new notes over the counter to ensure  that everyone can have access to it and not one chief who is known to the manager, walks in, and  carts away all the new notes in a particular branch, that is why we said it should be in the ATMs which cannot select people.

We also monitoring activities going around banks now. I have been to some ATMs this morning and I have done the reports. We are not mobilising the masses against the banks because the banks are there to serve you, but be rest assured that they will serve you now that they know that the CBN is on them to serve you with the new naira notes.

To the questions from traders in the market that some people were selling the new notes, he said anyone caught selling the new notes or any denomination of the naira would be jailed.

The President of the Coalition of Associations in Computer Village, Timi Davies, noted that the new naira notes are a good initiative.

He stated that unfortunately, the new notes are not well circulated within our market, the ATM machines are not dispensing the new notes and only a few privileged ones seem to be having access to the new notes.

We plead to the CBN and the government to enforce the deadline on the banks.

There should be no bank that should not be giving the new naira from their ATMs and they should make sure all ATMs should load the new notes.

As we are giving the old notes, we should be able to get the new notes and If the ATMs are not dispensing, the new notes will not flow around.

Chief Lateef Oluseyi, the Olukosi of Ikeja Land, assured the CBN of the support of the traditional rulling house in educating the community.

He dispelled rumours that the new naira was not durable.

He state, the new notes with more than 35 security features were not easy for counterfeiters to make.

Publish by Hope

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