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CBN to recruit 30,000 Naira distribution agents

By News Desk

As part of measures to address the scarcity of Naira after N200, N500, and N1,000 notes redesigning, the Central Bank of Nigeria (CBN) has concluded plans to recruit atleast 30,000 agents for currency distribution across the country.

Meanwhile, the apex bank has cautioned anyone hoping for a further extension of the deadline for use of old Naira notes to shelve the dream, insisting that the February 10th deadline date would not be adjusted.

The Governor of CBN, Godwin Emefiele, disclosed this development on Friday during a special press briefing at the CBN office in Marina, Lagos.

Emefiele, who acknowledges his awareness of the challenges often confronted by Nigerians while trying to access the new naira notes, stressed that the apex bank was already intensifying efforts on closing the gaps observed in the currency circulation process.

According to the CBN governor, the apex bank will extend cash swaps to microfinance banks and engage 30,000 super agents in the hinterlands as part of new measures to accelerate the circulation of new naira notes.

He stated that the CBN is discussing with banks to make alternative Channels ease and accessible for Nigerians to have the cash at their disposal.

Earlier on Friday, President Muhammadu Buhari asked Nigerians to give him seven days to resolve the cash crunch following the CBN redesigning of the naira notes.

He said this while speaking to the Progressive Governors’ Forum (PGF) who visited him at the Presidential Villa in Abuja to seek solutions to the cash crunch which they said was threatening the good records of the administration in transforming the economy.

President Buhari told the All Progressives Congress (APC) governors that the currency re-design will give a boost to the economy and provide long-term benefits.

He also expressed doubts about the commitment of banks in particular to the success of the policy.

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