Excitement as Ekiti banks issue new naira notes

Commercial banks in Ekiti have begun to issue new naira notes to customers.

Automated Teller Machines of the banks are now also stocked with the new notes, a situation that excites the people of the state.

There has been an outcry over the poor circulation of the new notes almost a month after it became a legal tender.

With the new development, the target of the CBN to phase out the old notes may be realized.

The redesigning of some naira notes was an initiative of the Central Bank of Nigeria aimed at mopping up stocked cash, improving security of banknotes, mitigating counterfeiting, controlling currency in circulation and addressing issues of kidnapping.