Old Naira notes: CBN, Commercial Banks engage 200 Cash Swap Agents to beat deadline in JIgawa

From Ahmed Rufa’i, Dutse

The Central Bank of Nigeria (CBN) in collaboration with some commercial banks in JIgawa state have engaged the services of over 200 agents for swapping of old naira notes for the new one in effort to meet the CBN deadline of 31st of January, 2023.
The CBN director of human resources, Hajiya Amina Habib, made the disclosure while addressing newsmen in Dutse.
According to her, she was in JIgawa state to supervise and monitor the cash swapping and circulation of the new currencies

Hajiya Habib explained that they decided to engage bank agents in the rural areas because there are many unbanked communities where banking has no physical presence

She indicated that the recruitment of the bank agents is to provide banking services in the rural areas where there are no banking halls.
“Part of the jobs they are recruited to do is to open bank accounts for the rural dwellers and collect all currencies during this period.

She said, “The central bank is carrying out massive sensitization nationwide to create awareness on the new currency and make sure that people actually accept the new Naira notes.
“So a lot of sensitization is going on by the bank (CBN) and we are aware we need to take care of the people in the rural areas, that is why the bank launched the cash swap programme”.

The director emphasized that “the cash swap programme is now ongoing across the country in the rural areas. We are doing a lot, my team has been going out in terms of money trend because the cash swap involves agents, the super agents who will send the funds through the banks”.

According to her the Dutse branch of the central bank has created some teams that are going round all parts of the state, rural areas in particular monitoring the cash swap programme to ensure success and to beat the CBN deadline.

She said members of her team are all over, every where in the state creating awareness and sensitizing the public and rural dwellers and encouraging people to moped off.
According to her, people can put money in their bank accounts, adding that the unbanked would have accounts opened for them where they can deposite the money and latter they will go to the respective banks to formalize the process”.

“Those who involved in the cash swap, N10,000 is the maximum that they can get under the cash swap programme and anything above that they can place in the bank account, those who are unbanked we encourage them to open a bank account”, Habib disclosed.

Hajiya Habib explained further that “financial inclusion is actually on the increase in terms of the people who are coming up and opening bank accounts which she said is having a positive influence on the national economy as well.”

The CBN director expressed satisfaction over the way and manner the programme has been going as she commended all the stakeholders for the support and understanding for the success of the programme.