First Edition of the Tastemakers Wine Series Hosted by Vendease


CBN licenses 400 financial agents in Kogi

The Central Bank of Nigeria has authorized 400 financial agents to facilitate access to the new banknote design in rural areas.

CBN said this would allow residents of rural Kogi to meet the January 31 deadline, allowing them to finally retire their old banknotes from circulation.

At Elulu Mopa Palace Thursday, CBN Oba’s chief strategy officer Julius Joledo Oluranti Buari said people can visit any agency and trade in their old notes for recycled ones.

He added that one person can trade 10,000 at the same time. Barry added: “People can deposit their old accounts into an account, but people who don’t have a bank account are encouraged to open an account with a licensed institution.”

The goal is also to promote a cashless policy, he said, as it encourages people to sign up for the Apexbank e-payment system.

On behalf of Elulu, the state’s former governor, Chief Clarence Olafemi, called on the CBN to extend the deadline to January 31 due to the failures of the villagers, especially after the collapse of the economy.

“Our economy in this area has collapsed, people are no longer opening stores, and those who can open are exploiting the population.

The revised policy is not intended to punish the population,” he said.

Olafemi, who was Speaker of the State House, said:

“I know very little about legislative matters.

The consequences should be considered before the law is passed, and not vice versa.”

He also called for increased access to efficient communications in rural areas, which he says is one of the reasons foreign exchange needs to be expanded.




Related posts

"Marketers anticipate an upcoming increase in cooking gas prices for the following week."


The private sector and economists are supporting the Central Bank of Nigeria as the naira depreciates to 664/$


Stock market jumps to 15-year high after Emefiele’s suspension


The investment group for listing on NGX

Sign up for our Newsletter and
stay informed

Leave a Reply

Your email address will not be published. Required fields are marked *