The Central Bank of Nigeria (CBN) has on Monday visited some commercial banks in Gombe metropolis to ensure the compliance of proper circulation of the new naira notes in the state.
The team which was led by Mr Yusuf Philip-Yila, Director, Development Finance Department, CBN Directorate Headquarters, also had personnel of the Economic and Financial Crimes Commission (EFCC) who were expected to ensure that cash released to the banks were made available to the public.
According to Yila, the exercise was to ensure complete compliance to CBN’s directives to commercial banks on over the counter payment of N20,000 daily withdrawals by customers.
He stated also that the exercise was part of efforts to guard against violation of the directed guidelines as well as address challenges militating against cash circulation in the state.
He noted that the visit afforded CBN the opportunity to interact as well as caution commercial banks against any attempts to sabotage the circulation of the new notes.
The apex bank official disclosed that some of the challenges observed especially with cash dispensing through Automated Teller Machines (ATMs) were addressed during the visit.
He said, the management of the concerned banks were engaged in order to improve circulation of the new notes through the ATMs.
According to him, more of the new notes had been made available to commercial banks towards improving the ease of doing business and also to make the new Naira notes readily available to citizens of the state.
“We are enforcing the directive of the CBN Governor, Mr. Godwin Emefiele, who has directed banks to commence paying customers new Naira notes Over The Counter (OTC), subject to a maximum daily payout limit of N20,000,” he added.
Mr. Yusuf Philip-Yila disclossed that the exercise was also intended to reduce queues around ATMs in the state.
Commercial banks visited included Polaris, Keystone, Zenith, Unity, Heritage, First Bank, Access, UBA and Union banks in Gombe State.
