Bank Workers Demand Clarification From CBN Over Old Naira Notes, Want New Deadline
- Want workers has asked the Central Bank of Nigeria (CBN) to clarify its position on old naira notes
- The President of the bank workers union said the statement became necessary following the back-and-forth stance of CBN
- He said the bank workers have also been assured of their safety during work hours
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The Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASSBIFI) has asked the Central Bank of Nigeria (CBN) to clarify its position on depositing old naira notes.
ASSBIFI President Olusoji Oluwole made the call on Sunday, February 19, 2023, during an interview with the News Agency of Nigeria (NAN).
Source: Getty Images
CBN denies asking banks to collect old naira notes
CBN had said it had mandated commercial banks to assist in collecting old N500 and N1000 notes from members of the public with a limit of N500,000 and below.
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However, in a statement, the apex bank denied asking the banks to collect old naira notes from Nigerians.
Banks went ahead to collect the old naira notes from customers in defiance of CBN’s directives.
Oluwole stated that the CBN needs to be clear on whether banks should receive old notes to avoid problems.
Oluwole said:
“The CBN needs to provide clarity because some banks are receiving, some are not receiving, and these are the things that could cause problems if they do not come out clearly and say, this is what is expected of everybody,” he said.
“By the pronouncement of the CBN governor, the validity of the old currency ended on February 17. So, will people still be able to pay in for the next 60 days just as the N200? Will they be allowed to pay in through the rest of the week? Will it end on Saturday?
“Those are the things they need to come out with, clearly and publish it; put it on their website, Twitter, because normally, CBN issues notices and circulars.”
Bank workers demand answers
TheCable reports that the ASSBIFI boss said the association had received a guarantee that bank workers would get adequate security to carry out their jobs and that security checks would be in place to safeguard bank assets.
The statement came after ASSBIFI held several meetings to address recent bank attacks by angry Nigerians over the scarcity of new naira notes.
He said:
“Our central working committee has also met to review these engagements and immediate implementation of some of the assurances by various stakeholders,” he said.
“Based on the outcome of our discussion, we hereby release the following statements: while our members will resume at their functional branches immediately, the safety and security of their lives remain paramount to us.
“Also, we continue to demand that visible and adequate security is provided in all operational areas, particularly places traditionally volatile.
“While our members in locations that were attacked and assets destroyed may be unable to operate, we have advised other members to assess the security situation in their environments before opening for business.”
How CBN reversed Itself on old naira notes after sending memo to commercial banks to collect them
Legit.ng earlier reported that many Nigerians had been confused following the confusion that trailed media reports about CBN asking Deposit Money Banks (DMBs) to accept old naira notes on Friday, 17, 2023, asking what happened that the CBN would reverse itself so soon.
Due to the directive by President Muhammadu Buhari that Nigerians should take old N500 and N100 notes to the Central of Nigeria (CBN), many Nigerians besieged bank offices across Nigeria on Friday, February 17, 2023.
Many reported arriving at the CBN office as early as 1 am and lined in front of the CBN office in Marina, Lagos, where there was a rowdy crowd.
Source: Legit.ng
