CBN to Monitor Compliance of Banks in Dispensing New Notes

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The Central Bank of Nigeria has said says it will ensure commercial banks comply with the directive of loading the redesigned Naira notes in their Automated Teller Machines.

CBN Director, Currency Operations, Ahmed Umar, made this known at the Training Session for State Directors, National Orientation Agency on Redesign of Currency Notes Policy.

Umar noted that the CBN’s directive was to implement the January 31 deadline withdrawal of old naira notes in circulation.

The Director added that that N500 and N1000 constitute 99 per cent of the currency notes that are being targeted for counterfeiting.

Written by: Helen Obih

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