Top Stories
New Notes Scarcity: CBN Issues Fresh Directive To Banks
The Central Bank Of Nigeria, (CBN) has directed all commercial banks to pay customers over the counter in N100, N50, N20, N10, and N5 notes, regardless of the amount withdrawn.
Naija News reports that Bankers Committee issued the directives to all commercial banks in the country on Monday, and also announced the discontinuation of old notes payment of N1000, N500 and N200 across the counters
The committee noted that bank customers are encouraged to use their alternative channels for transactions, while those who insist on new Naira notes are advised to use Automated Teller Machine (ATMs).
The directives were issued on Monday, following a meeting of the bankers committee in Lagos State.
Old Notes Deadline Extended
Meanwhile, the CBN Governor, Godwin Emefiele, in a statement on Sunday extended the deadline for old Naira notes.
Emefiele also noted that he obtained permission from President Muhmammadu Buhari to effect the extension.
Emefiele stated that, so far CBN has collected 1.9 trillion and left with 900 billion to achieve effective implementation of policy.
According to the apex bank chief, the extension, ‘a 7-day grace period’ was as a result of measures put in place to ease the scarcity.
The decision is coming after CBN had previously insisted that it would not extend the deadline.
- Top Stories10 hours ago
Serving NYSC members can apply – FIRS gives update on recruitment exercise
- Top Stories24 hours ago
What You Need To Know As Man Utd Announce Amorim As New Manager
- Entertainment23 hours ago
“Some men think I’m misleading their wives, but I’m not advocating for divorce or separation cos I love family” – May Edochie corrects misconception
- News10 hours ago
Electricity Consumers Demand Disconnection Over Rising Tariffs
- Tech10 hours ago
New Zealand introduces new visa category to support seasonal workers in 2025
- Top Stories24 hours ago
Tinubu rejects NEC’s proposal to withdraw tax bill, urges Council to follow ‘legislative process’
- News24 hours ago
Woman stabs her husband to d3ath in Ibadan
- Politics10 hours ago
Oluremi Tinubu Must See Young, Malnourished Detainees As Her Own Children, CISLO