CBN to sanction banks meting out light Naira notes

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CBN to sanction banks meting out light Naira notes

CBN to sanction banks meting out light Naira notes

January 19, 2023 9:41 PM

The Central Bank of Nigeria (CBN) has vowed to sanction industrial banks mute meting out light Naira notes before the Jan. 31 deadline for the halt of the currencies as correct at ease.

Naira-Notes (PremiumTimes)

Represented by Mr Atiku Mohammed-Nasir, CBN’s Director of Safety Provider, Emefiele entreated the traders and residents of the allege to include the redesigned notes for his or her transactions.

He reminded them that the light N200, N500 and N1,000 notes would cease to be correct at ease on Jan. 31, hence all in possession of the light demonstrate must rob them to the banks.

Henceforth, If you plod to any industrial bank and likewise you furthermore might can very successfully be issued the light N200, N500 and N1,000 manufacture now no longer get dangle of because they’d change into ineffective as from Jan. 31.

“We are in a position to henceforth sanction any bank stumbled on guilty of meting out the light Naira notes at ATMs or over the counters to possibilities.

“The CBN has supplied ample unique Naira notes to the diversified industrial banks. If any bank wretchedness you light Naira notes, document such bank to the CBN for appropriate action,” he stated.

The CBN governor insisted that there would be no extension of the Jan. 31 deadline for the termination of the light notes despite appeals for an extension by the traders.

He, therefore, entreated to traders to create haste and exchange their monies sooner than the deadline.

Emefiele inspired traders and diversified residents to include e-banking for his or her transactions, announcing the coverage would plod a prolonged technique to handle insecurity and gives a enhance to the nation’s economy.

Furthermore speaking, Shehu Yakubu, Lafia Division Controller, CBN, told the traders and diversified stakeholders to rob the redesigned Naira notes coverage severely by changing their light notes sooner than the deadline.

Yakubu eminent that failure to adhere to the instruction, the light notes starched in homes and diversified areas outside the banks would no longer be acceptable and change into like toilet tissue paper.

The News Agency of Nigeria (NAN) reviews that the CBN crew furthermore visited some industrial banks in Lafia to study the stage of compliance to its directive on the meting out of unique Naira notes through the Computerized Teller Machines (ATM).

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