News
Banks that will pay N1m over new notes – Emefiele reveals
The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has slammed commercial banks for not issuing the new naira notes.
Emefiele warned that any commercial bank that failed to issue the new naira notes to customers would be fined N1 million on a daily basis.
The CBN governor, who was represented by the apex bank’s Deputy Director, Adeleke Adelokun, issued the warning at a sensitisation on the new naira notes organised for market women in Ayegbaju International Market, Osogbo, Osun State.
He said that the apex bank had printed enough naira notes to serve Nigerians.
“As of today, CBN has printed enough new naira notes of N200, N500 and N1,000.
“But, what we discovered was that most of the banks that are supposed to collect the new notes have not collected them. So we have put a sanction on the banks.
“Any bank that fails to collect the new notes from CBN will pay N1 million as sanction per box per day and the amount they are to pay now will depend on the number of days they have not collected the notes,” he said.
In December 2022, the apex bank announced the change of N200, N500, and N1000 denominations and fixed January 31 as the deadline for circulation of the old naira notes
-
Health7 days agoNAFDAC recalls popular cough syrup, causing acute kidney disease in children
-
News3 days agoEFCC slams Edu, Farouq, Shehu, says N32.7bn, $445,000 recovered from humanitarian ministry
-
Politics7 days agoOdili Pronounces Fubara Political Leader Of Rivers State
-
Politics3 days agoWork On Akaba-Okodi Road Impressive, Says Gov Diri
-
Crime3 days agoOyo State Police Mentions Names Of Who Invaded Oyo Sate Secretariat
-
Politics7 days agoAttempts to pitch Tinubu against Wike won’t work – Woke
-
Entertainment3 days agoJunior Pope: ‘I Blame Myself For Shooting In Asaba’, Adanma Luke Laments
-
News3 days agoNigerians Calls On Pastor Enenche Paul To make Apology To his Church Memeber Who He Embarrased While Giving Testimony
