Emefiele Tells Nigerians: Be Patient, New Notes Will Circulate

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The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has appealed to Nigerians to show understanding adding that the redesigned notes would circulate and be accessible.

Mr Emefiele made the appeal at a special media briefing on the new naira notes, on Friday, in Lagos.

He noted he was seeing the protests and arguments surrounding the difficulty citizens were facing in accessing the new notes.

”I understand the agitation and I’m begging in God’s name, we on our knees begging people to please show understanding. They should be calm.

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”In our meetings with the banks, we have told them to set up tents and chairs, give people numbers, which I’m sure some people will say it is old fashioned.

”But at this time that we’re trying to get the currency in circulation amongst everybody, people have to have numbers and they come in under a queueing arrangements that when you come in you get served, if it finishes, just be patient.

By tomorrow, when you come back, they will start from where they stopped, you will not be cheated.

”Let’s just be calm and adopt a good queueing system, the assurance we give is that it will eventually go round.

”Eventually the limits will be raised and eventually the limits will be removed and people will be able to conduct their business transactions in a way that it has always been in the past,” Mr Emefiele said.

On high charges by the Point of Sale (PoS) agents on every transaction made by their customers, the apex bank governor urged banks to stop the charges on PoS.

”I am going to be calling a meeting with the banks this evening or by tomorrow, if those charges go to or those charges have been charged through the bank, we are going to have an arrangement with even telcos to see how those charges can actually at this time be stopped.

”Those charges at this time should be stopped. So, if we know whatever you are making that you’re not making because we stopped it, we can collect it somewhere and look for a way to pay you.

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