The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has called on the Central Bank of Nigeria (CBN) to make clarifications on the deposit of old naira notes to do away with the prevailing confusion on the issue.
Last week, there were conflicting reports concerning the deposit of the old N500 and N1,000 at deposit money banks, following a directive from President Muhammadu Buhari that the old N200 remained legal tender till April 10.
In an interview with the News Agency of Nigeria (NAN), president, ASSBIFI, Olusoji Oluwole, made the call in an interview with NAN on Sunday.
The apex bank had said it designated commercial banks to assist in the collection of the old N500 and N1,000 notes from members of the public but pegged it at N500,000 per customer, but later said it had given no such directive.
However, some banks have been collecting N500 and N1,000 notes from their customers.
Oluwole, in the interview, said to avoid problems, it was imperative that the CBN made clear pronouncements on the issue.
“The CBN needs to provide clarity because some banks are receiving, some are not receiving, and these are the things that could cause problems if they do not come out clearly and say, this is what is expected of everybody,” he said.
“By the pronouncement of the CBN governor, the validity of the old currency ended on February 17. So, are people still going to be able to pay in for the next 60 days just as the N200? Are they going to be allowed to pay in through the rest of the week? Will it end on Saturday?
“Those are the things they need to come out with, clearly and publish it; put it on their website, twitter because normally, CBN issues notices and circulars.”
