Mr Kofo Salam-Alada, Director of Legal Services of the Central Bank of Nigeria (CBN), has warned that as the deadline to phase out the old naira notes draws near, the organization will punish banks that continue to stock their ATMs with the notes.
SEE WHY Some Nigerian Banks Would Be Sanctioned By CBN 😮
He said that the CBN was already keeping a watch on banks that were still dispensing out-of-date naira notes through their ATMs. The CBN Governor’s envoy, Godwin Emefiele, the director, addressed on Wednesday at a sensitization event regarding the new naira notes in Lagos’ Computer Village Market.
He said, “I can tell you today that the CBN on a daily basis issues out the new notes. As we speak, banks are with the CBN taking money. We are actually begging banks to come and take money from Central Bank. We have these new naira notes in our vaults and we are begging banks to come and take them.
“We found out that a lot of things are happening that we need to checkmate, so we stopped withdrawal of new notes over the counter to ensure that everyone can have access to it and not one chief who is known to the manager, walks in, and carts away all the new notes in a particular branch. That is why we said it should be in the ATMs which cannot distinguish people.
“We also have monitors going around banks now. I have been to some ATMs this morning and I have done the reports. We are not mobilising the masses against the banks because the banks are there to serve you, but be rest assured that they will serve you now that they know that the CBN is on them to serve you with the new naira notes.”
Market vendors had expressed concerns about specific people selling the new notes, so he responded by saying that anyone caught selling any naira denomination—including the new notes—would go to jail.
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