The Central Bank of Nigeria has affirmed that the deadline date for changing old naira notes to newly designed naira notes remains January 31st, 2023.
The CBN Lagos Branch Controller, Godfrey Koyor, made the affirmation during a stakeholder sensitisation event on the currency redesign at the Balogun market in Lagos.
“The deadline is 31st of January and it is not changing. We haven’t changed the deadline. As I speak with you, the deadline remains sacrosanct and what we are asking the public and the banks to do to surrender the old notes and take new ones.”
Investors King had earlier reported that the CBN Governor, Godwin Emefiele had reiterated that the Central Bank was not going to bend its decision on the deadline date.
The CBN director assured Nigerians that enough new naira notes have been disbursed to banks to ensure smooth exchange for the public.
“We are giving everyone the assurance that the new naira notes are available and available to everyone. We are distributing through the banking system. And as the transaction takes place, you are going to be having the new ones.
“So as people are giving out the old notes, they will be receiving the new notes. We have pushed a lot of the new redesigned currency notes into circulation and it is going round.”
Koyor further added that the CBN has directed every bank in the country to ensure their ATM machines dispense only the new naira notes.
“We have given them a directive to make the notes available to the customer through the payment channels, which is the ATM. I am assuring you that if you go to the ATM, you will get the new notes. The essence of giving the directive that the new naira notes should be dispensed through the ATM is so that they will be available to people during working hours and off working hours.
Naira Scarcity: Sterling Bank Provides Free Transfer Services, Debit Cards to Customers
Sterling Bank Plc has announced the suspension of transfer charges for all its customers with personal accounts.
Investors King reports that the new generation bank’s announcement on free transfer services is to cushion the effect of the lingering naira scarcity in the country.
The Chief Executive Officer, Sterling Bank Plc, Abubakar Suleiman, gave the notice through email to the bank customers.
According to him, the bank customers with personal accounts will enjoy free fund transfers from February 6, 2023 to February 18, 2023.
Suleiman further said debit cards will be distributed to all interested customers for free.
The mail reads in part, “We at Sterling recognise the difficult circumstances many of our customers are going through. In light of this, from February 6, 2023, through February 18, 2023, our fund transfer services will be provided free of charge to all personal account customers.
“In addition, we are glad to inform you that we will provide free debit cards to all interested customers. This will provide you with a convenient and secure way to make purchases and carry out transactions.”
Explaining the reason for the offers, the Chief Marketing Officer, Sterling Bank Plc, Dante Martins said the bank intends to serve its customers better regardless of the current situation through digital means.
“We believe that by eliminating transaction costs for this period, we can assist our customers make their banking experience more easy by making the most of our powerful digital solutions. We want to make sure that we can serve them as best as we can during this time,” Martins said.
This is coming after the Central Bank of Nigeria (CBN) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) had busted millions of the new naira notes hoarded in Sterling Bank offices.
Investors King recalls that last Friday, the ICPC team monitoring the compliance of banks to CBN directives arrested the regional and service managers over the discovery of N258 million stashed in the vault at the head office of Sterling Bank in Abuja.
The stashed new naira notes found were said to be the remnants of what the CBN had given the bank for distribution to its branches but it only disbursed N5 million each to its branches.
CBN Directs Banks to Freeze of Pakistani Terror Financier’s Accounts
The Central Bank of Nigeria (CBN) has ordered the freeze of accounts related to Abdul Rehman Makki, a Pakistani linked to a terror group, Al-Qeada, by the United Nations Security Council.
In a circular signed by Harry Audu, Director of the Financial Policy and Regulation Department, CBN, it stated that financial institutions should immediately comply with the new directive.
The directive by the apex bank ordered all financial institutions to screen their customer databases for possible business relations with the designated individual and file reports to the NFIU.
According to the bank, this is in line with the requirement of the provision of section 6 of the CBN AML/CFT Regulations, 2022 and section 4.3 of the CBN guidelines on targeted financial sanctions related to terrorism and terrorism financing 2022.
Similarly, the CBN ordered banks to update their sanction screening list to reflect the recent changes in the Noted Nations Security Council UNSC consolidated list.
The circular read in part, “the noted nations security council (UNSC) pursuant to paragraph 2 and 4 of resolution 2368 (2017) HAD ON January 16, 2023 listed Abdul Rehman Makki as being associated with ISIL or Al-Qaida and has accordingly been added to the ISIL (Da’esh) and Al-Qaida sanction list of individuals and entities that are subject to assets freeze, travel ban and arm embargo as set out in paragraph 1 of security council resolution 2610 (2021)”
Abdul Rehman Makki is identified as the head of LASHKAR-E-TAYYIBA (LET) political affairs by the UN. He served as head of LET’s foreign relations department and member of Shura (governing body). He is also a member of JUD’s Markazi (Central) Team and Daawati (proselytization) team. He is the brother-in-law of LET Chief Hafiz Muhammad Saeed (QDi.263). Abdul Rehman Makki is wanted by the Indian Government.
Abdul Rehman Makki and other LET/JUD operatives have been involved in raising funds, recruiting and radicalizing youth to violence and planning attacks in India, particularly in Jammu and Kashmir (J&K). Whilst Makki has held his leadership positions within LET and JUD, LET has been responsible for or had involvement in the following prominent attacks such as the ) Red Fort Attack, ii) Rampur Attack amongst others
ICPC Nabs Three Banks’ Officials, Security Guards For Flouting CBN’s New Notes Directives
More startling discoveries have continued to rattle Nigeria’s banking sector following scarcity of the new naira notes.
In some parts of the country, some senior officials of commercial banks have been arrested for hoarding the newly redesigned currency of the Central Bank of Nigeria (CBN).
Following bitter complaints from Nigerians, especially bank customers over paucity of the new cash, the Federal Government has directed anti-graft agencies to swoop on those frustrating Nigerians.
This situation has led to chaos and long queues at banks across the country.
In order to tame the menace, CBN officials and security operatives have been monitoring conducts of commercial bank management in the manner they dispense cash.
Operatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) said they discovered N258 million stashed in the vault at the head office of Sterling Bank in Abuja.
According to a statement by ICPC, the discovery followed one of the commission’s operations at ensuring that commercial banks and other interest groups do not flout the apex bank’s directive of cash hoarding.
Explaining how the operation went, ICPC said when its officials visited the bank and discovered the stashed new naira notes in the bank’s vault, it was informed that the cash was the remnant of what the CBN had given the bank for onward distribution to its branches.
The monitoring team said it found out that only the sum of N5 million each was distributed to various branches of Sterling Bank.
Signed by the ICPC spokesman, Mrs. Azuka Ogugua, the statement further revealed that the regional and service managers of the bank were apprehended but later granted administrative bail while further investigation would be carried out on the matter.
Also, a security guard of one of the banks was arrested for contributing to the chaos within the bank premises.
The ICPC said it also nabbed the Head of Operations, Keystone Bank, Mararaba in Nasarawa State for frustrating its customers at getting the new naira notes by hoarding the currency.
According to the anti-graft team, while on its routine operation, it found out that the Automated Teller Machines (ATMs) at the branch were not dispensing to its customers while other bank customers were accessing only N1000 despite being given all the denominations by the CBN.
After the unscheduled visit to the bank, the commission disclosed that the ATMs started dispensing N5000 to non-customers and N10000 to its customers.
The team also revealed that it arrested one Abdulkareem Shaibu, a Security Guard with Zenith Bank, 3rd Avenue Gwarimpa, as well as Ali Adam and Shafiu Umar.
While Shaibu, the security guard, was arrested for being in possession of five ATM cards which he was using to collect money for different unknown persons who were not within the bank premises at that time, Adam and Umar were arrested in front of Zenith Bank, 1st Avenue Gwarimpa, for selling the new naira notes.
Relatedly, two officials of FCMB Ogo-Oluwa, Osogbo, Osun State were apprehended for assaulting officers of ICPC and CBN Cash Swap Monitoring Team.
Investors King reports that these fresh arrests came as Nigerians continue to rage over the cash crisis ravaging the country for weeks now.
Government2 weeks ago
NPower Moves to Settle Batch C2 Stipend Arrears
Forex4 weeks ago
Dollar To Naira Black Market Exchange Rate For Today 13th January 2023
Technology2 weeks ago
Six Nigerian Cities Get 5G Network as Telecom Firm Plans to Add More
Loans2 weeks ago
FG Releases List of 94 Approved Online Loan Applications
Energy4 weeks ago
Demand For Solar Energy Globally Rising Fast, Sales May Exceed $220bn in 2023– Report
Government3 weeks ago
Npower News: FG Pays 7,500 NSIP Independent Monitors Stipend Arrears
Energy4 weeks ago
NERC Ascribes DisCos Losses to Energy Theft, Refusal to Pay Bills by Customers
Company News2 weeks ago
Automobile Firm to Complete Large Assembly Plant In Ogun, Unveils Plans to Build Vehicles