Monitoring team storms Delta to enforce CBN directives on commercial banks

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The Central Bank of Nigeria (CBN) monitoring team, Thursday, stormed Delta state to enforce its directives on commercial banks.

The Economic and Financial Crimes Commission (EFCC), and Independent Corrupt Practice Commission (ICPC) accompanied the apex bank for the monitoring exercise.

The monitoring was for the commercial banks and Point Of Service Operators, (POS) to comply with its directive to pay the new naira notes to customers at both ATM, bank counters and POS shops. 

In Delta state, commercial banks witnessed an influx of customers who were eager to deposit their old naira notes and at the same time withdraw money.

Blueprint observed that banks along Nnebisi road such as UBA Bank, Access Bank, Sterling Bank, Wema Bank, Eco Bank compulsorily pay out new notes through their ATMs and across the counters.

Customers, who besieged the banks were given tallies as they were allowed entry to the banking halls in batches. 

Accoding to a business woman, Dorcas Thomas, “I’m tired of the system. But I have no choice as I have taken all my old naira notes to the bank.

It was observed that some POS agents were seen making brisk gains from customers who prefer the new naira notes but CBN mandated them to charge N100 on N10, 000 and N200 on N20, 000

Speaking to journalists in Asaba, Mr Sam Okejere, Director, Banking Services, CBN, Abuja, said the monitoring and cash swap exercise for petty traders has been successful so far.

According to him, the cash swap exercise is between N10, 000 and N20, 000 per individual petty trader who has no bank account with the assistance of POS owners.

“We are on this monitoring of payment and cash swap exercise and the objective is to satisfy the petty traders who don’t have a bank account with a cash swap and withdrawal of a maximum of N20, 000.”

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