Economy

CBN At Olu Palace, Seeks Advocacy Down Creeks

Ola ‘Kiya, Reporting

OFFICIALS of the Central Bank of Nigeria (CBN) has appealed to the Olu of Warri, Ogiame Atuwatse III and his chiefs to help take the message of the deadline of redesigned new naira notes to the Delta creeks.

Leader of the CBN team, Mr Sunny Daibo, made the plea at the Olu Palace on Friday during an impromptu courtesy visit to the revered monarch.

Daibo, who also represented the CBN governor, Godwin Emefiele, said the traditional institutions remained germane in the sensitising the public, especially rural dwellers on the naira redesign programme.

The CBN Deputy Director of Finance, emphasized that the team’s deployment to Warri was to sensitize the people about the new naira notes, urging the people to take their old notes to the bank before the January 31 deadline.

He solicited the support and the cooperation of the royal institutions in Delta State towards ensuring the success of the policy.

Responding, the traditional chiefs led by Chief Yaya Pessu, who apologised for the absence of the Olu of Warri, however commended the Federal Government for deeming it fit to redesign the naira at a crucial time in the country’s history.

He also lauded the CBN for embarking on the awareness exercise, although rather behind schedule.

The Oluaye of Warri kingdom, Chief Eugene Ikomi, who was among the chiefs who welcomed the bankers, urged the CBN to review the January 31 deadline upwards.

He averred that “up till now, so many people haven’t seen the new naira notes in Warri and its environs,” adding that even the palace chiefs haven’t set their eyes on them.

He recounted his experience on how he went to one of the banks in Warri on Thursday only to be paid with the old naira notes.

CBN At Olu Palace, Seeks Advocacy Down Creeks

CBN staff and the Olu of Warri palace chiefs

He, therefore, urged the apex bank to urgently address the challenges faced by the people.

On his part, the Ogwa-Olusan of Warri Kingdom and former Assistant General Manager, Nigerian Security Printing and Minting PLC, Chief Brown Mene, urged the apex bank to activate its inspectorate unit to ensure that the commercial banks adhere to its directives.

“There is a need for Central Bank of Nigeria to sit up and do something about the refusal of the commercial banks to comply with it’s directives.

“If need be, the CBN should wield the big stick. CBN has the powers to ensure commercial banks operate within its policies,” he added.

The CBN team, who were in Ogbe-Ijoh and Main Markets on Thursday on the sensitization exercise, later stormed the popular Igbudu market to do .

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