The Central Bank of Nigeria (CBN) yesterday said it has disbursed more than a billion naira to banks in Edo State in the last three days to cushion the hardship faced by customers in accessing the redesigned naira notes. Director, Risk Management of the CBN in Abuja, Dr Blaise Ijebor, disclosed this in Benin City, where he implored citizens to explore alternative means of transactions to ease the demand for cash in the economy. He said: “We are pushing out money regularly.
On Sunday, we gave banks N400 million. That is why they were paying money on Monday. We gave out N200 million on Monday and today we have given out N460 million. “We are doing everything within our power to improve the situation. We have allowed banks to pay over the counter with the limit of N20, 000 payable to each person. We also gave money to microfinance banks to pay over the counter with a maximum of N10, 000. The microfinance banks are to concentrate on the rural communities.”
