Bauchi Citizens describe CBN Cash Swap Programme as “Saving Grace”.

CBN Officials swapping people’s Old Currencies at Bauchi Emir’s palace

By Abubakar Baba Ahmad.

A cross section of residents in Bauchi metropolis have described the Central Bank of Nigeria CBN Cash Swap programme as a saviour especially to the downtrodden.

They made their feelings known while interacting with Radio Nigeria shortly after exchanging their old naira notes at Emirs Palace Bauchi.

One of them, Muhammad Nasiru Musa from Ibrahim Bako said the cash swap policy will help reduce hardship among the vulnerable groups and rural dwellers in depositing their old notes at the various channels provided by the apex bank.

Muhammad Musa used the medium to call on all citizens to embrace the new CBN programmes especially the cashless policy aimed at making business transactions technology-based as practiced globally.

“We are now in a global age, everything is almost done electronically and since you can make transactions via transfer, using your mobile phone or cards so there’s actually no need to be carrying hard currency or cash to be making transactions in the market. You know CBN will be going round all the nooks and crannies of the state to sensitise the people to tell them to come and change their old with new currencies, its really a good development,” He commends.

Another resident, Buhari Musa Bauchi who said the new policies would help reduce the rate of naira mutilation, advised people especially rural dwellers to open bank accounts and stop keeping their money at home to guarantee security.

Also Speaking, Hauwa’u Ibrahim from Bakaro Street commended the apex for initiating the cash swap programme, noting that the initiative has eased the process of changing the old notes among women engaged in household petty trade.

On his part, the Acting Branch Controller CBN Bauchi, Sulaiman Laido expressed satisfaction with the people’s turn out for the cash swap programme, stating that the bank will continue to review the situation to ensure all citizens deposit their old notes before the deadline.

“We’ll as long as the timeframe given by central bank that is January 31. The Central Bank will review it from time to time before the deadline, and the turn out is massive, wonderful and people are excited , they’re so happy to see what we’re doing,” Laido describes.

Sulaiman Laido said the categories of citizens that swapped their old notes at the commencement of the exercise include beggers, women petty traders, inmates, old people among others.

Similar exercise was also held at Misau, Ningi and Dass.

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