CBN orders banks to start paying new notes over the counter

Nigerians can now receive the newly redesigned naira notes over the counter at commercial banks, following a directive from the Central Bank of Nigeria (CBN).

In a statement by CBN Governor Godwin Emefiele, the move is aimed at easing the challenges faced by Nigerians in obtaining the new notes and reducing the long queues at ATMs across the country.

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The Central Bank of Nigeria (CBN) also cautioned against abuse of the newly redesigned Naira notes and warned that it is working with security agencies in the country to prosecute sellers and abusers of Naira.

In a statement by Osita Nwanisobi, CBN Director, Corporate Communications, the apex bank also noted the reported cases of unregistered persons and non-bank officials swapping banknotes for members of the public, purportedly on behalf of the CBN.