In compliance with the directive of the Central Bank of Nigeria (CBN), commercial banks, on Saturday, in Delta State, witnessed an influx of customers who are eager to deposit their old naira notes ahead of the January 31st deadline.
Recall that commercial banks had announced, as directed by the apex regulatory bank, that their branches would be open across the country on Saturday, January 28 and Sunday, January 29 to entertain more depositors with their old naira notes.
Checks by our correspondent on Saturday revealed that banks along Warri-Sapele road such as
Heritage Bank, Fidelity Bank, UBA, Sterling Bank, Wema Bank, Eco Bank and First Bank were all receiving old notes but not paying out new notes through their ATMs or across the counters.
The hordes of customers who besieged the banks were given tallies as they were allowed entry to the banking halls in batches.
Some customers, who spoke to our correspondent, were still complaining about the lack of new notes as no withdrawal was allowed across the counters, and neither were the ATMs dispensing new naira notes or old notes.
“I’m tired of the system. But I have no choice as I have taken all my old naira notes to the bank,” a businesswoman, Aghogho Omonigho noted.
Although our correspondent could not sight any, traders were said to be rejecting the old notes from customers to avoid being trapped by the deadline.
At Enerhen junction and some other parts of Delta, the boundary between Effurun and Warri towns in Uvwie Local Government Area, some Point of Sales agents were seen making brisk gains from customers who prefer the new naira notes.
Customers were charged N700 naira for N5,000 withdrawal of new notes while for old notes, they were charged N200.
Speaking to journalists in Koko, Warri North Local Government Area of Delta State, Mr Sunny Daibo, the leader of the surveillance team and representative of the CBN governor, Godwin Emefiele, said the cash swap exercise for petty traders has been successful so far.
According to him, the cash swap exercise is between N5,000 and N10,000 per individual petty trader who has no bank account with the assistance of Point of Sales owners.
“We are on this cash swap exercise and the objective is to satisfy the petty traders who don’t have a bank account with a cash swap of a maximum of N10,000.
“If you meet the new money agent, they will collect the old notes and give you new notes.
“Having covered Warri South, Udu, and Uvwie local government areas between Thursday and Friday, we’re now in Warri North and Warri South West for the same exercise.
“The exercise is now making people aware that they need to open a bank account.
“The cashless policy is for the good of Nigerians because the cost of managing cash is enormous.
“So, by the time we embrace this policy, it will help the economy, fight inflation, reduce, counterfeiting, reduce crime, especially kidnapping,” he noted.
He reiterated that the January 31 deadline for the return of the old naira notes remains sacrosanct, urging Deltans to make hay while the sun shines.
“As of today, there’s no extension until we hear from CBN. There’s no going back; the deadline is still January 31st.
“Take your money to the bank and do most of your transactions online.
“People are complaining that they are not seeing the new notes and they are not complying with the policy.
“It seems they are not getting the message and that is the goal of this exercise.
“We want to discourage people from stockpiling money at home,” he warned.
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