• News - North Central - Kogi
  • Updated: January 26, 2023

Naira Swap: CBN Licenses 400 Money Agents In Kogi

Naira Swap: CBN Licenses 400 Money Agents In Kogi

Few days to the deadline for the new naira swap, the Central Bank of Nigeria (CBN) has licensed about 400 money agents in Kogi State to facilitate easy swap of the newly redesigned notes in the rural areas.

This is to enable more people, especially rural dwellers to meet the January 31st deadline for the final withdrawal of the old notes from circulation.

Speaking on Thursday at the palace of Elulu of Mopa, Oba Julius Folorunsho, the Kogi State branch controller of the Apex bank, Ahmed Sule Isah, said that people can visit any of the agencies to swap their old notes with the newly redesigned ones adding that an individual would be entitled to swap 10,000 at a time.

“People can also deposit their old notes into their accounts while those without bank account would be encouraged to open one at the point of the licensed Agents.”

According to him, the aim was also to encourage a cashless policy as people would also be encouraged to key into the e-payment system of the Apex bank.

The Ex-Governor of the state, Chief Clarence Olafemi, who responded on behalf of the Elulu, however, pleaded with the CBN to consider an extension to the January 31st deadline, particularly for the rural dwellers.

“Our economy in this part of the state has already collapsed, people are no longer opening their shops, and those who manage to open are exploiting the masses, I am pleading with you to prevail on the management to consider the rural dwellers before setting the deadline since the redesigned policy is not aimed at punishing the people,” he said.

Olafemi who was once Speaker of the state House of Assembly said, “I know a bit about the business of lawmaking, you have to consider consequences before making laws and not the other way round.”

He also called for improvement in access to effective communication in rural areas which he said was also one of the reasons why the notes swapping must be extended.

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