The Central Bank of Nigeria, CBN has embarked on currency swap at the doorsteps of locals for easy business transactions of business in the Northern Nigeria.
This is coming at a period when most people across the border areas of the North have embraced the use of Cefas,the Central African Currency,(CFA)as a legal tender in the face of scarcity of Naira notes.
Those benefiting from the swap are mostly people with 10 thousand naira and below.CBN said the development which is to spread across all the rural areas was to ensure that the locals do not loose their monies, and to also facilitate small scale businesses.
Across remote villages,the CBN teams were seen swapping the old naira notes for the new redesigned notes for the locals including the old, young, men, women, and persons living with disabilities amongst others.
In most areas,it was observed that the emirs palace were the convergence points for the Naira swapping.
Recall that the CBN had recently announced that it has engaged agents to sort out the exchange of old naira notes for the new ones in remote areas including the frontline areas bedeviled by the activities of terrorists.
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