CBN Directs Commercial banks, to Commence payment of new naira note over\u00a0 the counter<\/p>\n
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The Central Bank of Nigeria, CBN, has directed deposit money banks, DMBs, to begin the payment of the new naira notes to customers over the counter.<\/p>\n
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In a statement signed by the apex bank\u2019s Director, Corporate Communications, Osita Nwanisobi, said the directive is part of moves to ameliorate the plight of Nigerians who are finding it hard to get the new notes.<\/p>\n
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The statement noted, however, that customers are only allowed to withdraw a maximum of N20,000 per day.<\/p>\n
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\u201cIn line with this resolve, the Governor, Mr. Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000,\u201d the statement added.<\/p>\n
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Mr Nwanisobi, who admitted the difficulties Nigerians faced in trying to get money through automated teller machines, ATMs, assured that the bank is committed to making the process seamless.<\/p>\n
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The apex bank also promised to collaborate with relevant securities agencies to arrest and prosecute racketeers of the new naira notes.<\/p>\n
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\u201cWe have equally noticed the queues at Automated Teller Machines (ATMs) across the country and an upward trend in the cases of people stocking and aggregating the newly introduced banknotes they serially obtain from ATMs for reasons best known to them.<\/p>\n
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\u201cAlso worrisome are the reported cases of unregistered persons and non-bank officials swapping banknotes for members of the public, purportedly on behalf of the CBN.<\/p>\n
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\u201cWe wish to state unequivocally that, contrary to the practice of these unpatriotic persons, it is unlawful to sell the Naira, hurl (spray), or stamp on the currency under any circumstance whatsoever.<\/p>\n
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\u201cFor the avoidance of doubt, Section 21(3) of the Central Bank of Nigeria Act 2007 (As amended) stipulates that \u2018spraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and shall be punishable under the law by fines or imprisonment or both,\u201d the statement warned.<\/p>\n
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He added that, \u201csimilarly, Section 21(4) states that \u2018It shall also be an offence punishable under Sub-section (1) of this section for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Bank\u201d.<\/p>\n
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NAN<\/p>\n
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CBN Directs Commercial banks, to Commence payment of new naira note over\u00a0 the counter The Central Bank of Nigeria, CBN, has directed deposit money banks, DMBs, to begin the payment of the new naira notes to customers over the counter. In a statement signed by the apex bank\u2019s Director, Corporate Communications, Osita Nwanisobi, said the […]<\/p>\n","protected":false},"author":5,"featured_media":14683,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[],"class_list":["post-14684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"yoast_head":"\n