New naira notes: CBN says change of currency not political - The Source

ADVERTISEMENT
  • Landing Page
  • Shop
  • Contact
  • Buy JNews
  • Login
The Source
  • Home
  • News
  • Politics
  • Education
  • Entertainment
  • Opinions
  • Business
  • Sports
  • Crime
  • World News
  • Parliament
No Result
View All Result
  • Home
  • News
  • Politics
  • Education
  • Entertainment
  • Opinions
  • Business
  • Sports
  • Crime
  • World News
  • Parliament
No Result
View All Result
The Source
No Result
View All Result
Home News

New naira notes: CBN says change of currency not political

The Source by The Source
January 20, 2023
in News
0
0
SHARES
31
VIEWS
Share on Facebookshare on whatsappShare on Twitter

[ad_1]

The Central Bank of Nigeria (CBN) has debunked speculations that the Naira redesign is politically motivated.

According to CBN, the redesign of the currency was not politically motivated, adding it was a coincidence that it happened during the election.

The CBN team head and Deputy Director Research Department, Abuja Mr Kama Ukpai, disclosed this at Eke-Afikpo Market, Afikpo North Local Government Area of Ebonyi state during a sensitization of stakeholders on the currency redesign on Friday.

Kama, while restating that the 31 January deadline for old naira remains sacrosanct as there will be no extension, threatened to sanction any bank still dispensing old Naira notes through the Automated Teller Machines (ATMs) in Ebonyi State.

He then urged the Public to report any bank still dispensing out the old note to customers for sanction.

His words “There is nothing political about the change of naira notes. Under normal circumstances most of the time, in currency management, it takes 5-8 years to redesign currency but because of the cost involved, in currency management, we discovered that the current age of this new naira is 15-22 years.

“It is not politically motivated, rather both of them happening at the same time is coincidence”.

However, the chairman Afikpo Market Amalgamated Association, Comrade Johnson Inya Oka, appealed for the extension of the deadline due to the insufficiency of the new naira notes.

He said: “For me, the time given as the last date is short because up till now, the banks are not dispensing the new naira notes as far as here is concerned both in the ATM. If you go to the ATM, each ₦100, 000, you get about 5 pieces of the new naira notes and that is the challenge we are having.

“We don’t have any challenge if CBN is fast to change the old money, no problem but for now, the two banks in our area are still giving us old naira both at the ATM and counter. But for me, I will advise that they extend the dates because the banks in Afikpo are not dispensing the new naira notes and even some aged people in the market here have not seen the new naira note”.

[ad_2]

Be the first to read it our next BREAKING NEWS, POLITICS, METRO. Click here to join our WhatsApp group

Previous Post

FG inaugurates C’ttee on implementation of humanitarian policy, strategic roadmap

Next Post

2023: Tinubu Is Most Qualified Candidate – APC Chieftain, Binuyo

The Source

The Source

Related Posts

ITF Ratifies Osun as South-West Zonal Headquarters
News

2025: Osun Powers Ahead with Climate-focused Initiatives

by The Source
June 29, 2025
Egbedun @40: Akinleye Salutes Symbology Youthful Excellence, Legislative Distinction
News

Egbedun @40: Akinleye Salutes Symbology Youthful Excellence, Legislative Distinction

by The Source
June 28, 2025
Prof. Adepoju Calls on Women to Support Husbands, Launches Book on Fathers’ Sacrifices
News

Prof. Adepoju Calls on Women to Support Husbands, Launches Book on Fathers’ Sacrifices

by The Source
June 28, 2025
Fubara, Wike Sighted Together in Rivers State after Peace Talks
News

Fubara, Wike Sighted Together in Rivers State after Peace Talks

by The Source
June 28, 2025
Defence Academy Attack: Bandits Demand N200m Ransom For Abducted Officers
News

Bandit Leader Babaro Seizes Kankara, Bans Farming, Kills Dozens

by The Source
June 26, 2025
Next Post
2023: I Have Moved To Abuja, Tinubu Tells Atiku

2023: Tinubu Is Most Qualified Candidate - APC Chieftain, Binuyo

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Africa News
  • Business
  • Celebrities
  • Crime
  • Economics
  • Education
  • Entertainment
  • Health
  • HumanAngle
  • News
  • Opinions
  • Parliament
  • Politics
  • Religion
  • Sports
  • Uncategorized
  • World
  • World News

Browse by Tags

Abuja Adeleke APC Aregbesola Atiku Bandits Buhari CBN Chelsea Court Davido EFCC EndSARS FG FIRS Governor Governor Adeleke IGP INEC Kaduna Lagos Muslims Naira Nigeria Nigerian Nigerians NUJ Ondo Ooni Osinbajo Osogbo Osun Osun 2022 Osun govt Osun Poly Osun State Oyetola PDP Police SDP Senate Students Tinubu Tunde Odesola US

Categories

  • Africa News
  • Business
  • Celebrities
  • Crime
  • Economics
  • Education
  • Entertainment
  • Health
  • HumanAngle
  • News
  • Opinions
  • Parliament
  • Politics
  • Religion
  • Sports
  • Uncategorized
  • World
  • World News

Browse by Tag

Abuja Adeleke APC Aregbesola Atiku Bandits Buhari CBN Chelsea Court Davido EFCC EndSARS FG FIRS Governor Governor Adeleke IGP INEC Kaduna Lagos Muslims Naira Nigeria Nigerian Nigerians NUJ Ondo Ooni Osinbajo Osogbo Osun Osun 2022 Osun govt Osun Poly Osun State Oyetola PDP Police SDP Senate Students Tinubu Tunde Odesola US

Recent Posts

  • NANS Speaks on Arrest of Suspects with NANS-Branded Vehicle
  • 2025: Osun Powers Ahead with Climate-focused Initiatives
  • Egbedun @40: Akinleye Salutes Symbology Youthful Excellence, Legislative Distinction

© 2022 The Source Nigeria.

No Result
View All Result
  • Home
  • News
  • Politics
  • Education
  • Entertainment
  • Opinions
  • Business
  • Sports
  • Crime
  • World News
  • Parliament

© 2022 The Source Nigeria.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In