CBN to Banks: Pay onlyN20k new notes over the counter forthwith
With effect from today, February, 3rd, 2023, the Central Bank of Nigeria (CBN) has directed commercial banks to pay maximum of N20,000 of the new naira notes daily to customers over the counter.
This was as the apex bank assured that queues at Automated Teller Machines (ATMs) across the country would soon disappear.
The CBN gave the directive and assurance in a statement issued on Thursday and endorsed by the Director, Corporate Communications, Osita Nwanisobi.
It reads in part, “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. In line with this resolve, the Governor, Mr. Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000.
“We also admonish members of the public to embrace and adopt other payment channels for their transactions,” CBN said in the statement.
The Central Bank threatened to invoke relevant laws and deal ruthlessly with those abusing the Naira in various ways.
