CBN directs banks to pay redesigned Naira notes to customers over-the-counter. #cbn #naira #bank

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

The CBN has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of ₦20,000.

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 abuse 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 banktnotes they serially obtain from ATMs for reasons best known to them.