The Central Bank of Nigeria (CBN) branch in Sokoto State has initiated a program to swap old naira notes for new ones, aimed at alleviating the difficulties residents face in accessing the updated currency. This initiative was launched on Thursday in the Wamakko and Gwadabawa Local Government Areas (LGAs), where local residents expressed their satisfaction with the service.
During the launch in Wamakko LGA, the Sokoto CBN branch Controller, Dahiru Nakazalle Usman, explained that the program was designed to ease the challenges faced by residents, particularly in rural areas where banking facilities are limited. He noted that each beneficiary is allowed to exchange a maximum of 10,000 naira per day throughout the duration of the program. Usman also mentioned that the initiative aims to reach all 23 local government areas in the state before the end of the month, when the old notes will no longer be considered legal tender.
Additionally, the district head of Wamakko LGA, Alhaji Aliyu Barde, praised the CBN for this initiative, emphasizing that it would significantly reduce the stress experienced by his constituents. He urged local residents, especially traders, to stop rejecting old naira notes from customers, as doing so is a punishable offense under the law. Barde also encouraged those who benefit from the program to ensure that the new notes circulate within the local government for the advantage of the wider community.
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