By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NewsunplugNewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Reading: CBN orders banks to pay new Naira notes over the counter
Share
Notification Show More
Font ResizerAa
Font ResizerAa
NewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Search
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Have an existing account? Sign In
Follow US
Newsunplug > Blog > News > CBN orders banks to pay new Naira notes over the counter
News

CBN orders banks to pay new Naira notes over the counter

Godson
Last updated: February 2, 2023 11:50 pm
Godson
Published: February 2, 2023
Share
SHARE

The Central Bank of Nigeria (CBN) has directed commercial banks to begin the payment of the new naira notes to customers over the counter. The apex bank gave the directive in a statement signed and released by the Bank?s Director, Corporate Communications Osita Nwanisobi today, February 2.

Nwanisobi stated that the directive is part of moves to ameliorate the plight of Nigerians who are finding it hard to get the new notes.

?In 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.

While admitting the difficulties Nigerians have faced in trying to get money Automated Teller Machines (ATMs), the apex bank reassured of its commitment to making the process seamless. It also vowed to prosecute racketeers of the new naira notes, saying it is working with relevant agencies to make that happen.

?We 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. 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. We 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.

For the avoidance of doubt, Section 21(3) of the Central Bank of Nigeria Act 2007 (As amended) stipulates that ?spraying 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.?

Similarly, Section 21(4) states that ?It 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.??

You Might Also Like

Police spokesperson, Prince Olumuyiwa Adejobi, slams rude X user
Reps To Probe Alleged Mishandling Of N183.9bn COVID-19 Intervention Funds
De@th toll in Jos school building coll@pse rises to 21 as volunteers use shovels to dig out students (photos/video)
Hamas brutality can’t justify ‘collective punishment’ of Palestinians – UN chief
Economy: Tinubu Meets Shettima, Akpabio, Governors Ahead Of Thursday’s NEC Session

Quick Link

  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Share This Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Galatasaray to make two big signings after deals for Sane, Osimhen
  • My ex-husband impregnated my younger sister and arranged for her to have an abortion, which led to her death – Nigerian woman narrates
  • “Most women only look out for men’s faults” — Yhemolee speaks ahead of Girlfriend’s Day
  • Nigerian man sentenced to six years imprisonment in UK for s3xual activity with girlfriend’s underage daughter
  • 31 houses razed in Gwagwalada communal clash after herders k!lled farmer

Recent Comments

No comments to show.

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

Top Categories

  • Entertainment

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
© 2023 Newsunplug | All Rights Reserved.
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?