CBN directs commercial banks to start paying the redesigned naira notes over counter




Today, Thursday February 2, The Central bank of Nigeria CBN, has directed commercial banks to start payment of the redesigned naira notes over the counter, limited to the maximum of 20,000 per day.



CBN’s Director Corporate Communication, Osita Nwanisobi, announced the directive in a  statement adding that the apex banks will collaborate with the Nigeria Police, Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) to prosecute abusers and sellers of the naira.


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

The CBN governor, Godwin Emefiele said, the directive was to eradicate the challenges Nigerians are facing with getting access to the new note.

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. Also worrisome are the reported cases of unregistered persons and non-bank officials swapping banknotes for members of the public, purportedly on behalf of the CBN.


In a tweet, The CBN has assured Nigerians of making available the redesigned naira notes.





Leave a Reply

Your email address will not be published. Required fields are marked *