JUST IN: CBN issues new order to banks on new naira notes

naira notes

Naira notes

The Central Bank of Nigeria (CBN) on Thursday ordered all banks in the country to start paying the new naira notes from the counter with immediate effect.

This is as a result of scarcity of the new notes across ATMs in the country and the banks being banned by the apex banks not to pay the new notes from the counters.

There are long queues in the few ATMs dispensing the new notes while millions of Nigerians are crying and are unable to access money.

The CBN, in a statement issued on Thursday directed banks to start paying the new notes from the counter.

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The bank said it had equally noticed the queues at Automated Teller Machines across the country and an upward trend in the cases of people stocking and aggregating the newly introduced banknotes they serially obtained from ATMs for reasons best known to them.

The apex bank added that also worrisome were the reported cases of unregistered persons and non-bank officials swapping banknotes for members of the public, purportedly on behalf of the CBN.

The situation in the country is getting out of hand as anger spread due to inability of the masses to access their money for daily upkeep.

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