New Notes: CBN To Monitor Banks’ Strong Rooms

The Central Bank of Nigeria (CBN) has said it will monitor bank’s strong rooms in Rivers State as a way to checkmate banks that hoard the new naira notes and make it difficult for Nigerians to access.

 

 

The Rivers State Branch Controller of CBN , Mr Maxwell Okafor , disclosed this in Port Harcourt, Rivers State capital, after monitoring the CBN cash swap in Port Harcourt and Igwurita in Ikwerre local government area of Rivers State, on Sunday.

Mr Okafor said many residents, especially the POS operators, are finding it difficult to access the new naira notes, thereby making it hard for the money to get to the areas where banks do not exist.


Log in to primsol.lawpavilion.com and enjoy the best E-journals, textbooks, and many more

To subscribe to Primsol, go to store.lawpavilion.com.

For further enquiries/assistance, send an email to customercare@lawpavilion.com or call 08050298729


He said POS operators were passing through difficulty to get the new notes, saying many get discouraged from going to the banks because of the stress of staying for several hours.

Old Naira Notes: House c’ttee rejects CBN extension, says position of law sacrosanct

CBN finally extends deadline of old naira notes

He said monitoring of bank’s strong room will put an end to hoarding of the notes ny defaulting banks.

“It took us lots of time for us to enter bank hall to assist POS operators get the new naira notes. If Nigerians can experience this type of thing in our presence how much more when we are not around. Banks should make the process of cashing money easier for Nigerians so that they can access the new naira notes, especially the POS operators”

“The POS operators takes money to many of the places where banks do not exist as they can push the money to every nooks and cranny of the state. As for hoarding of the new naira notes, we have to do further exercise as to ensure that money is distributed to the people . It means we have to get to their strong rooms. We will check how they disburse what they have , what they have in the ATM,” he said.

He said the apex bank will visit other banks outside Port Harcourt to ensure compliance with the disbursement of the new naira note and appealed to banks to assist CBN make the process easy.


Call Bridget Edokwe Esq on 08060798767 or send your email to barristerngblog@gmail.com


The cost is N8,000: To Order/get copies of the Book, contact the Author below

Email: haglersoco@gmail.com. Call: 08032253813

Address: Winners Chambers No 135 Ehi Road by Mosque Street beside First Bank Aba, Abia State


Author: Prof Theodore Okonkwo, Ph.D: CALL: 08065159968; 08068771923: PRICES: N100,000 (SPECIAL EDITION), N60,000.00 (UNIVERSAL EDITION)

Digital Evidence and eDiscovery Law Practice in Nigeria -By Emeka Arinze Esq. [ORDER NOW] - For book cost & placing order, visit www.decfi.com.ng/order


Steps To Subscribe To the Court of Appeal Reports Nigeria


Get ‘Personal Property Law in Nigeria’ By Chief Mike A.A. Ozekhome, SAN (FREE)

Click below to download FREE

https://www.pulp.up.ac.za/monographs/personal-property-law-in-nigeria

ADVERTISEMENT

BESTSELLER: Commercial and Economic Law in Nigeria By Chief Mike Ozekhome, SAN [ORDER NOW] To ORDER click the link https://kluwerlawonline.com/EncyclopediaChapter/IEL+Commercial+and+Economic+Law/COMM20210001 Buy the Book on Military Law, authored by a Veteran Military Lawyer, and launched personally by the then COAS.

SHOP NOW  CALL THIS PHONE NUMBER 07087622283 TO GET A COPY


To get a copy kindly Call 07044444777, 07044444999 & 08181999888 or visit us at: Investment House, 7th Floor, 21/25 Broad St., Lagos. Buy online @ www.alexandernigeria.com


Available at Frank Agbedo & Co. Crown Chambers. 5th floor, left wing, Nipost Building, Lagos Island, Lagos State. Tel: 08033254471, 09077950432 Email: frankagbedo@gmail.com
%d