The Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) to commence immediate payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000.
The CBN Governor, Mr. Godwin Emefiele gave the directive in a statement signed by the Director, Corporate Communications, Osita Nwanisobi and made available to Channel Network Afrique, CNA.
The Governor while urging Nigerians to embrace and adopt other payment channels for their transactions expressed reservations over the activities of persons who sell the newly redesigned banknotes as well as those who flagrantly abuse the legal tender by hurling wads of Naira notes in the air and stamping on the currency at social functions.
The statement also noted that the apex bank is aware of queues at Automated Teller Machines (ATMs) 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.
Mr. Emefiele said the reported cases of unregistered persons and non-bank officials swapping banknotes for members of the public, purportedly on behalf of the CBN which is worrisome.
He however, reiterating their commitment to ensure the effective distribution of the newly introduced Naira banknotes and urged Nigerians to exercise patience as the CBN is working assiduously to address the challenge of queues at ATMs permanently.
He said Naira is Nigeria’s legal tender and symbol of national pride as such must be respected and handle with care.
