CBN Allocates N120m To Bank Agents In Katsina
AREWA AGENDA – The Katsina Branch of the Central Bank of Nigeria (CBN) has allocated N120 million new naira notes to bank agents in Katsina State.
The aim was to ensure easy cash swap from old to new currency for people with ten thousand Naira and below. This commitment is coming as the CBN’s January 31 2023 deadline on the use of old Naira notes draws closer.
CBN’s Director of Currency Operations, Ahmed Bello Umar, who is in Katsina to supervise an ad-hoc team, disclosed on Saturday said the apex bank has set out teams to monitor the disbursement of new currency notes across the federation.
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He explained that the monitoring exercise entrails checking ATMs to ensure that the money is loaded for people to withdraw. According to him, the ATM will give people the opportunity to have access to money. He said the monitoring team in Katsina tracked the volume of disbursement that is not on the ATM.
Umar, however, called on people to report to the CBN immediately whenever they come across any bank not opening or not disbursing the new currency notes on its ATM for disciplinary actions.
“We had an engagement with bank agents in Katsina State; we have agents for four banks where we allocated the sum of N120 million for disbursement,” he said.
“The agents are supposed to collect N500,000 per week to disburse in their communities where they have a shortage of banks. We have also carried out an additional cash swap program by going to places like Daura, Kurfi, Mani, and Mashi Local Government Areas of Katsina State.
Credit: Channels
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