*Says banks not banned from paying new notes over the counter
Amid the rising demand for the new naira notes, the Central Bank of Nigeria (CBN) has dismissed speculations over the inadequacy of the new notes in the Deposit Money Banks (DMBs), saying the banks have enough new notes to circulate across the nation ahead of the January 31 deadline when old notes will cease to be a legal tender.
The CBN has also clarified that it did not ban the banks from paying customers the new notes over the counter, pointing out that the directive to the banks to dispense new notes via Automated Teller Machines (ATM) was to complement over-the-counter transactions and increase the circulation of the redesigned notes.
The apex bank had directed the banks to load their ATMs with only new notes to ensure that the currency circulates across the nation ahead of the January 31 deadline.
Dismissing the speculation over the inadequacy of the new notes in banks, the Director of…
Source: Thisday Newspaper