The Central Bank of Nigeria (CBN) released and dispenses over N10 million new Naira notes on Friday in rural communities across eight local government areas in Jigawa state under a newly introduced programme titled Cash Out by the Central bank of Nigeria (CBN).
Speaking while flagging up the new programme, the Dutse branch CBN comptroller, Hajiya Saadatu Aminu Ibrahim represented by the head of the finance department, Mr Abdu Amadu said “This is part of the CBN effort to ease the suffering of people and rural dwellers on redesign currency in the state”
According to him “The new cash out programme is in addition to the popular cash swap aim making new Naira note available in the rural areas through agents and super agents”.
Mr Abdu Amadu noted this programme is first introduced only in Jigawa for its peculiarity would be in all the 27 Lgas to ease the hardship and revive and improves trades and businesses in the state and county at large.
According to him, “The CBN in collaboration with commercial banks is using agents who each is given the N500,000 and to go his locality and cash out”.
“Under this new system, anybody will transfer his money into an agent account and collect cash of new Naira notes. At the same time, the cash swap is continued.”
“The two programme is going concurrently under the strict supervision of the CBN staff, some at the same point in another case at different points depending on the situation”.
Abdu Amadu maintained that the amount limit remains as N10, 000 whether cash out or cash swap, “it is one opportunity for one person. If you swapped you can not cash out”.
He said CBN it’s trying its best to see that people would not suffer and lose their money as a result of redesigning currency and achieving cashless policies.
Amadu called on the entire people to open their bank accounts and embrace a cashless policy for their good and economic development in the country.
The local governments that were captured on Friday include Gwaram, Roni, Gwiwa and Kiyawa local government areas
Others are Ringim, ‘Yan kwashi, Birniwa and Malam Madiro where a minimum of four agents and a maximum of five agents depending on the size of the local government area each provides N500,000 for cash out through transfer and POS transactions.