According to reports, For about two weeks, the Central Bank of Nigeria (CBN) moved from community to community in the Niger Delta especially in Rivers State to ease currency swap easier. Though tension still persists but the CBN in Port Harcourt with their team led by the branch controller, Maxwell Okafor, intensified their campaigns in the rural areas. The CBN first began in at the Mile One Market in Port Harcourt where they led other stakeholders to teach people on the CBN naira redesign policy, the issues of deadline, and the ultimate objective being a shift away from cash to other transaction instruments such as transfers and e-Wallet. At the Mile One Market campaign, the CBN team lectured the traders on how to download the e-wallet, saying it is compatible with both android and analog phones. The team also took many questions from traders most of who insisted on cash. The CBN also went round the city to see Autamated Teller Machines (ATMs) at work.
This seemed to bring some relief as banks loaded some new money in the machines, but soon after, the matter seemed to become worse. As we speak, CBN is ready to disburse a lot of cash to banks even today. Banks are free to come today, our office is open as we speak. They can come in to collect and deposit their cash. Okafor said: “The sincere truth is that the situation is not smooth. Many of the banks are making the process too cumbersome. For us to enter the bank today to assist these POS operators, we met a lot of pains. “I wonder if Nigerians go through this pain when we are here, what happens when we are not here. Banks should please make the process of cashing money easier for Nigerians so that they can get the money to every nook and cranny of the state.” He said it was not easy to establish a case of hoarding on the part of the banks. “We will need a further exercise to establish that. It means we had to go into their strong rooms, we will check how they disbursed what they have, ATM, individuals, before we can establish that. But the process is slow and we are pleading with banks to make the process easier.”
