The Central Bank of Nigeria (CBN) has reviewed various feedback on the plan to redesign the naira.
A statement by the Director of Corporate Communications, Osita Nwanisobi, said the apex bank ‘is pleased to note the positive response of the banking public to the policy through increased currency deposits across banks and other financial institutions.
While noting the progressive increase in financial access points and alternative banking channels over the years, Nwanisobi said they might not be evenly distributed.
He added: “In operationalizing this initiative, the CBN has been collaborating with relevant agencies and other stakeholders in the financial system in its execution, particularly ensuring that vulnerable citizens are not disenfranchised.
“Accordingly, the banking public in rural and/or underserved areas may access CBN branches in the 36 states to enquire about options for depositing their current N200, N500, and N1,000 notes, wallet/account opening processes, financial access points, etc.
“Agent locations across the country have also been fully enabled for BVN registration, opening banking accounts/wallets and e-Naira wallets, electronic card distribution, and cash deposit, among others.
“Due to the policy, the agents have also been accorded priority to enable them to deposit cash collections through bank branches across the federation. The bank shall continue to monitor developments and issue updates on the implementation of the Naira redesign policy as may be necessary.”
