The Central Bank of Nigeria (CBN), on Thursday, 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.
Although the directive is counter to its earlier stance, the apex bank recanted In order to mitigate the chaos in banks and the difficulties Nigerians are facing getting the new naira notes.
The CBN Governor, Mr. Godwin Emefiele, who gave the directive, urged Nigerians to exercise patience while assuring that the apex bank was working assiduously to address the challenge of queues at ATMs.
Hitherto, the new naira notes were not paid over the counter but could only be withdrawn from Automated Teller Machines (ATMs).
Emefiele who urged the police and other agencies to prosecute sellers and abusers of the naira, assured that queues at ATMs will soon disappear.
These directives were contained in a statement by Osita Nwanisobi, Director, Corporate Communications, CBN, which was made available to TheNiche.
The CBN chief warned Nigerians, particularly those at social functions such as birthdays, weddings and funerals, to desist from disrespecting the naira or risk being arrested by law enforcement agencies.
2 replies on “CBN orders banks to pay N20,000 new notes only over the counter”
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