Zulum urges CBN to make available Redesigned notes ahead of dateline.

Group photograph of Governor Babagana Zulum flanked by officials of Central Bank of Nigeria when they paid him a courtesy call at the Government House Maiduguri.

By Dauda Iliya

The Borno state Governor Babagana Zulum has expressed concern over the non -availability and circulation of the redesigned new naira notes in the state.

Professor Zulum made this known when members of the Central Bank of Nigeria, CBN committee on implementation, usage and level of compliance of the redesigned new naira notes paid him a courtesy call at the Government House, Maiduguri.

The Governor informed the CBN delegation that the state government is in support of the policy, however only Maiduguri, Jere and Biu out of the twenty local government areas have an operational bank.

According to him, the remaining ones have been without banks for more than a decade, in addition to destructions of telecommunication facilities perpetrated by Boko Haram insurgents.

“Borno State Government is really in support of the CBN policy in redesigned new naira notes, as it will have a long run positive effect on Nigerians, but sincerely speaking, all the infrastructures needed to implement this new CBN’s policy are not in existence in many parts or communities of Borno” Zulum said.

Governor Zulum identified some hard-to- reach communities and categories of people that will have challenges in accessing the new notes to include Kala Balge and Banki towns neighbouring Cameroon Republic and the repentant insurgents who are still under the custody of security agents. 

“Just last week, the Borno state government under my leadership has approved the release of the sum of N800 million to cushion the hardship faced by our repentant Boko Haram Terrorists, so how do CBN expect these repentant terrorists who are still under the custody of our security operatives come out to exchange their old naira notes or open an account with commercial banks” the Governor added. 

Leader of the delegation who is the Director Statistics Department of the Apex Bank, Mohammad Tumala said, the CBN has deployed the team to assess the level of compliance by commercial banks and its customers as well as dispatching the new naira notes.

“We are in the state for two mandates which include; to ensure the new naira notes are in circulation in Nigeria, especially in hinterlands and rural communities ahead of the 31st January 2023 dateline for the old currency seize to be a legal tender, as well as ascertained banks and other financial institutions are fully complying with disbursement of the redesigned new naira notes by making them available” Tumala remarked. 

He appeal to the State Government to provide adequate security cover for the team to enable them visit some of the communities”.