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JUSTIN: CBN Bows To Pressure, Directs Banks To Begin Paying New Naira Notes



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.

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

While directing banks to pay new notes over-the-counter, which had previously been prohibited, the apex bank gave Nigerians the assurance that the lines at Automated Teller Machine stands would soon disappear.

The statement read, “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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