Old naira note: CBN urges rural dweller to open account to avoid loss of money

As the deadline to phase out old naira notes draws closer, the Central Bank of Nigeria (CBN), has appealed to people living in rural communities to visit POS super agents and open bank accounts to avoid the loss of their money.


Mr Atiku Mohammed, director of the security service, Central Bank of Nigeria, CBN made the appeal to rural dwellers in the state while embarking on a state wide sensitization tour to the 13 local councils.

Speaking to traders in Doma, Obi, Akwanga and Wamba local councils on Wednesday, Mr Atiku said that the CBN wants citizens to open an account with banks for ease of transaction.

“The CBN has empowered POS super agents across the state to open a bank account and deposit their money.

“We are discouraging the practice of keeping money at home and doing transactions with cash.

“You can open a bank account with the POS super agents and also an e-wallet account if you cannot access the bank and withdraw new naira notes while they will accept deposits of old naira notes before the deadline.


Atiku called on the people to ensure they lodge their money in banks before the deadline to avoid losing their money.

Some Community leaders in the local communities visited expressed gladness and promise to support the CBN to ensure the policy works.

Meanwhile, some traders who believe the new CBN policy will help them avoid keeping money at home where it can be stolen, pleaded for an extension of time to enable them to lodge their money in banks.

Alhaji Saidu Sule, a fulani herder told our reporter that he came with N2million old note but was told there was no provision to exchange that amount with new notes.

Mrs Hasana Sabo, a trader in Akwanga told Guardian that she was aware of the deadline and has been telling others to ensure compliance so as not to lose their money.

The leader of the team assured that the sensitization exercise would continue till the deadline.

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