CBN Embarks On Sensitization Tour In Imo Over New Naira Notes

January 19, 2023
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The Central Bank of Nigeria has embarked on a sensitisation of the features of the new Naira in Imo State with focus on traders at the popular Relief market and other rural markets in Owerri municipal city.

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Traders turned out in large numbers to learn about the features of the new Naira notes which was introduced in the country last month.

Branch Controller of CBN in Imo State, Mrs. Oyoburuoma Boma, encouraged the traders to embrace the new policy of the bank adding that it would be beneficial to them, especially in their cashless transactions.

Boma also used the opportunity to educate the traders on how to recognise the new currency notes, and warned residents, market women and leaders not to pay charges while depositing the old naira notes to their respective commercial banks in Imo state.

She urged them to make use of alternative methods of deposit of the old naira notes through the POS, Electronic transfer, USSD, and Internet Banking among others. Insisting that  the deadline for the deposit of the old naira notes remains January 31 2023

Only three of the current eight denominations were redesigned, namely the N1,000, N500, and N200 banknotes. All other banknotes- N5, N10, N20, N50, and N100 are not affected.

President Muhammadu Buhari launched the new naira bank notes on November 23, 2022. The current N1,000, N500, and N200 banknotes that are being phased out will circulate side by side with the redesigned N1,000, N500, and N200 banknotes till January 31, 2023.

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