The Central Bank of Nigeria directs the Deposit Money Bank to begin paying the new naira notes over the counter to customers immediately, not exceeding a maximum of N20, 000. This is in a bid to address the long queues at Automated.
A statement by its Director, Corporate Communications, Osita Nwanisobi, said “The CBN has observed with utmost concern the activities of persons who sell the new naira banknotes and those who abuse our legal tender with gross impunity, hurling wads of naira notes and stamping on the notes at social functions.”
“We also noticed the queues at ATMs across the country and cases of people stocking and hoarding the newly introduced naira notes they over time obtained from ATMs. Also reported cases of unregistered persons and non-bank officials swapping bank notes for members of the public, on behalf of the CBN.”
CBN assured Nigerians that they would, in collaboration with the Nigerian Police Force and other law enforcement agencies, to prosecute sellers and abusers of naira.
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