CBN issues N120m new notes to agents in Katsina

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New Naira notes

The Central Bank of Nigeria (CBN) says it has issued over N120 million of the new currency to four banks for disbursement to people in Katsina State through some agents.

The Director, currency operations of the CBN, Alhaji Ahmed Bello-Umar, disclosed this while briefing newsmen on the issue on Saturday in Katsina.

According to him, the aim of engaging the agents with the relevant licenses was to reduce the challenge of accessing the new currencies in some communities, especially the rural areas.

“We had an engagement with agents, in Katsina we have agents working for about four banks, all of them we allocated the sum of over N120 million of the new currency for disbursement to those agents.

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“And the agents are supposed to collect from the banks N500,000 per week to disburse in their Communities. We know that there are some communities where there are no banks.

“And it’s difficult for people in those places to go and deposit their old currency to get the redesigned ones.” the CBN director said.

He explained that apart from that, CBN has carried out additional programmes, especially going round places to ensure that they have given them the new currency and collected their old notes, especially those that have not more than N10,000 so that they can continue with their life.


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