CBN threatens to shut down banks dispensing old naira notes

today01/20/2023 40

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The Central Bank of Nigeria, CBN, has warned that any ATM found to still have old notes would be shut down and appropriate sanction applied on the operating bank.

CBN Deputy Director, Currency Operation, Rekiyat Yusuf, gave the warning during the sensitization of market people about the redesigned naira notes, Lokoja, Kogi state capital.

Yusuf urged traders to avail themselves of the opportunity of the January 31 deadline window to visit either their banks or any bank, and exchange their currency.

The Deputy Director stated that the reasons for redesigning the notes include, curbing terrorism, kidnapping for ransom and endemic corruption.

Written by: bossgmsi

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