Banks Can Now Start Paying New Notes Over The Counter – CBN

The Central Bank of Nigeria has directed commercial banks to start paying the new naira notes to customers over-the-counter in the banking halls.

This was recently revealed by the bank’s Director of Corporate Communications, Osita Nwanisobi, and Nigerians have been reacting.

According to him, Nigerians can rest assured that the queues at Automated Teller Machine stands will end soon as banks have been directed to pay new notes over the counter, which was previously banned.

CBN added that the activities of persons who sell the newly redesigned banknotes are closely monitored as well.

His words, “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.”

“The Central Bank of Nigeria has observed, with grave concern, the activities of persons who sell the newly redesigned banknotes and those who flagrantly abuse the legal tender by hurling wads of naira notes in the air and stamping on the currency at social functions.”

“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.”