Mai Mala Buni, Governor of Yobe State, has asked the Central Bank of Nigeria (CBN) to extend the January 31 deadline for the phase-out of old notes.
Since the announcement of the new ₦200, ₦500, and ₦1,000 denominations on October 26, 2022, the CBN has insisted that the deadline will not be pushed back.
Buni urged the central bank to give Yobe residents a special concession and alternatives for exchanging naira notes.
Mamman Mohammed, the governor, said in a press conference on Sunday through his spokesman that the appeal is necessary due to a lack of banking services in most parts of the state.
He explained that only four of the state’s 17 local government areas have banks, making it difficult for people in the remaining 13 to access banking services.
“Some of the banks with branches in the local government areas closed the branches at the peak of the Boko Haram security challenge but are yet to reopen in spite of the improved security in the state,” he stated.
“The CBN should be considerate to provide special services to such areas with special needs to avoid making them victims and losing their money.
“The CBN and commercial banks should as a matter of urgent public interests deploy alternative services at their disposal to salvage the situation.”
Yobe’s governor stated that the CBN should also ensure that commercial banks open branches in local government council headquarters now that the state’s peace and security have improved.
Buni stated that the improved security in Yobe and the North-East makes it easier for banks to reopen and open new branches in local government council headquarters and other towns.
He also expressed concern that unless something is done quickly, many people will be victims of failing to switch to the new notes.
