The Central Bank of Nigeria (CBN) has directed commercial banks in the country to start paying new 200, 500, 1,000 naira notes to customers over the counter.
The CBN Governor, Godwin Emefiele, gave the directive via a statement issued on Thursday.
Emefiele stated that the directive was to tackle the challenges Nigerians are experiencing with getting the new currency, adding that it will reduce queues at the Automated Teller Machines (ATMs) across the country.
The CBN stated that it is working to ensure the effective distribution of the newly introduced naira banknotes.
READ ALSO: Tricycle riders protest fuel price hike, naira scarcity in Enugu
It urged Nigerians to exercise patience, saying it is working assiduously to address the challenge of queues at ATMs.
“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.
“We also admonish members of the public to embrace and adopt other payment channels for their transactions. The Naira is our legal tender and symbol of national pride. Therefore, let us respect it and handle it with care,” the apex bank said.
The Economic and Financial Crimes Commission (EFCC) says it will arraign former Attorney-General of the…
Power has been fully restored across Nigeria after the country’s electricity grid experienced a partial…
A Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN) and…
The Federal Road Safety Corps (FRSC) has confirmed that seven journalists in Gombe State died…
The Ogun and Lagos State governments have commiserated with British-Nigerian boxing champion, Anthony Joshua, over…
President Bola Ahmed Tinubu has expressed deep sympathy to AJ following the fatal accident that…
This website uses cookies.