The Central Bank of Nigeria (CBN) urged commercial banks in the country to comply with the directive of loading the newly redesigned naira notes in their Automated Teller Machines (ATMs).

CBN Director, Currency Operations, Mr Ahmed Umar, stated this in Abuja on Monday, Jan. 9.

Umar, who spoke at the Training Session for State Directors, National Orientation Agency (NOA) on Redesign of Currency Notes Policy, said commercial banks should stop putting old notes in ATMs or face a penalty.

According to Umar, the CBN’s directive was to implement the January 31 deadline withdrawal of old naira notes in circulation.

Umar said: "We, CBN management, have mandated banks to stop putting old notes in their ATM machines. They should only put the new notes.

"And there is a serialisation of the policy that they can put either N500, N1000 or N200 notes whichever denomination they have or combination of any of those notes, they should just put a new note in their machines.

"We’re going to monitor to ensure that the banks comply, and if they don’t, we’ve penalty for non-compliance."

Source: https://saharareporters.com/2023/01/10/stop-putting-old-naira-notes-atm-machines-or-face-penalty-central-bank-warns-commercial

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Well, they would keep loading the old notes because the new one given to them has been exchanged through the back door for 65/35 with people who have over the years stash up cash in their private vault thinking that is the definition of being rich.

B

Stop putting Old corrupt politicians in power or continue to face economic problems — my warning for Nigerian youths.

This deadline of 31st January is so real!

What's the one currency superman can't hold?




Kryptocurrency.

Ok

I tire oh! This country sef.

This is the raw truth, CBN don't have enough of the new notes to give banks yet. They should stop painting it as if it's the banks fault, have you ever thought of this? If the old notes were exchanged for the new ones by CBN to banks why on earth will banks load old notes?

Better late than ever

Reporting34:
Ok

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Na old not I just collect now now,plus I go gtb some mins past 4pm and bank don close.the securities were not even aware of the CNB extension of banks closing time to 5pm.
Everybody in this country I defiant even emefiele self is defiant.
Make una first penalize emefiele for his japaration.

gbengaeed:
Well, they would keep loading the old notes because the new one given to them has been exchanged through the back door for 65/35 with people who have over the years stash up cash in their private vault thinking that is the definition of being rich.

my thought though!

I have not withdrawn any new notes or even touched it, they look fake to me though.

We keep getting news from CBN but CBN governor nor gree resume office even defied the president’s directives.

Empty threats as usual, you will go to the banks and they will give you rottened notes, you will go to those note sellers in ring road in Benin city and see crisp naira notes that they got from the same banks that distributed the rottened notes to you. Every thing is just upside down in this country

Some banks are cronies to politicians.

sparko1:
I have not withdrawn any new notes or even touched it, they look fake to me though.

the #500 note is cool so as the 1k but that #200 note is something else

The questions are: Do commercial banks have enough notes to fill their machines with? What is/are the penalty(s)? How are we sure CBN is not being hypocritical on this matter?
Let's wait and see what will happen if by January 31st, the new notes in circulation are still not enough.

What note?
I am the only one missing something?

Did u give them new notes

Yawn

Buhari is really serious against BAT ...

I wonder what they’re hoarding the notes for. I don’t even remember the last time I used an ATM. I need to reduce my laziness this year and plan better, these POS agents have influenced my spending habit negatively

Tinubu don thief the new notes into his bullion van

Supply them enough money na

Mumu people ��