CBN directs banks to begin issuing new notes over the counter

The Central Bank of Nigeria (CBN) has directed commercial banks to begin issuing new naira notes to customers in banking halls over-the-counter.

The bank’s Director of Corporate Communications, Osita Nwanisobi confirmed the news in a statement on Thursday.

The apex bank assured Nigerians that the long lines at Automated Teller Machines would soon be over, while also directing banks to pay new notes over-the-counter, which had previously been prohibited.

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The statement reads: “We have equally noticed the queues at Automated Teller Machines 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.

“Also 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.”


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