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National Tribune

Flagging The Conscience Of Truth

CBN Issues Directive for Banks to Dispense Redesigned Currency Notes at Counter

ByWeb Manager

Feb 2, 2023

CBN Addresses ATM Lines, Orders Banks to Dispense Redesigned Notes Over the Counter Up to N20,000. Will Prosecute Naira Abusers with Police and Other Agencies.

The Central Bank of Nigeria (CBN) is deeply concerned about the actions of individuals who are selling the newly redesigned banknotes and those who recklessly misuse them by throwing large amounts of Naira into the air and stepping on them at social events. We have also observed increased lines at Automated Teller Machines (ATMs) and an upward trend of people hoarding the newly introduced banknotes obtained from ATMs. Additionally, reports of unregistered individuals and non-bank officials exchanging banknotes for the public, purporting to act on behalf of the CBN, are also a cause for concern.

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