The Central Bank of Nigeria (CBN) yesterday reiterated its commitment to the seamless implementation of the naira redesign project to achieve its fundamental objectives. It also pledged to shield vulnerable Nigerians from any negative impact that may arise from the execution of the project. The apex bank stated this in a statement made available to THISDAY. It also noted the positive response of the banking public to the policy through increased currency deposits across banks and other financial institutions. In addition, it noted that the progressive increase in financial access points and alternative banking channels including electronic/internet banking, mobile apps, ATM, Cards/PoS, eNaira, agent banking, among others, may not be evenly distributed across all geopolitical zones and in some rural areas. In this regard, the central bank said it was collaborating with relevant agencies and other stakeholders in the financial system in the execution of the redesign policy to particularly ensure that vulnerable citizens are not disenfranchised. The CBN explained that the banking public in rural and/or underserved areas may access CBN branches in the 36 states of the federation to enquire about options for depositing their current N200, N500, and N1,000 notes, wallet/account opening processes, financial access points among others.
THISDAY