The Central Bank of Nigeria (CBN) on Monday urged commercial banks in the country to make sure that they comply with the directive of loading the newly redesigned naira notes in their Automated Teller Machines (ATMs).
CBN Director, Currency Operations, Mr Ahmed Umar, stated this in Abuja on Monday.
Umar, who spoke at the Training Session for State Directors, National Orientation Agency (NOA) on Redesign of Currency Notes Policy, said commercial banks should stop putting old notes in ATMs or face a penalty.
According to Umar, the CBN’s directive was to implement the January 31 deadline withdrawal of old naira notes (N200, N500 and N1000) in circulation.
WE ARE ON TWITTER, FOLLOW US TO CONNECT WITH US - @RAWNIGERIACOM— Raw Nigeria! (@rawnigeriacom) January 2, 2023
Umar said, “We, CBN management, have mandated banks to stop putting old notes in their ATM machines. They should only put the new notes.
“And there is a serialisation of the policy that they can put either N500, N1000 or N200 notes whichever denomination they have or combination of any of those notes, they should just put a new note in their machines.
“We’re going to monitor to ensure that the banks comply, and if they don’t, we’ve penalty for non-compliance.”
Do you find Raw Nigeria! useful? Click here to give us five stars rating!
Check and Confirm: How much is Dollar to Naira, Pounds, Euro, etc.
Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment.
Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,.
All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).
We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us for immediate removal.