Naira: CBN allows over-the-counter withdrawals, PoS operators charge 10%

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Naira Redesign

.Naira Redesign

 Mr Godwin Emefiele, Governor, Central Bank of Nigeria (CBN), has directed commercial banks to begin the payment of the redesigned naira notes over the counter.

Emefiele gave the directive in a statement posted on the CBN Website on Thursday and signed by the Director, Corporate Communications, Mr Osita Nwanisobi.

He noted that the new directive would address the challenge of queues experienced at various commercial banks across the country.

The governor said, “while reiterating our commitment to Nigerians to ensure the effective distribution of the newly introduced naira banknotes, we urge them to exercise patience as the CBN is working assiduously to address the challenge of queues at ATMs.”

According to him, in line with this resolve,  the commencement of the payment of the redesigned naira notes over the counter is subject to a maximum daily payout limit of N20,000.

The governor also said the bank had observed with grave concern, the activities of…



Source: Vanguard Newspaper