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Breaking: CBN directs banks to pay redesigned Naira notes to customers over-the-counter

Breaking: CBN directs banks to pay redesigned Naira notes to customers over-the-counter

The CBN has directed deposit money banks (DMBs) to begin the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000, aso Naija reports.

Director Corporate Communication, CBN, Osita Nwanisobi disclosed this in a statement adding that the apex bank will collaborate  with the Nigeria Police, FIRS, the EFCC and NFIU to prosecute abusers & sellers of the naira.

He said: “The Central Bank of Nigeria (CBN) has observed, with grave concern, the activities of persons who sell the newly redesigned banknotes and those who flagrantly ab¥se the legal tender by hurling wads of Naira notes in the air and stamping on the currency at social functions.

We have equally noticed the queues at Automated Teller Machines (ATMs) across the country and an upward trend in the cases of people stocking and aggregating the newly introduced banknotes they serially obtain from ATMs for reasons best known to them.

What do you think?

Written by Elizabeth O.

Oyinlola Elizabeth O. Is a prolific SEO Analyst/content writer who is based vastly on different beats/niches. She is also a metaphysical poet and a chemical scientist with improved knowledge in western modernization/persuasive
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