CBN Orders Banks To Stop Putting Old Notes In Their ATMs

Amidst complaints in some quarters following the scarcity of the redesigned Naira notes, the Central Bank of Nigeria (CBN) has promised to monitor commercial banks to ensure they comply with the directive of loading the new Naira notes in their Automated Teller Machines (ATMs).

This was made known by the CBN Director of Currency Operations, Ahmed Umar at the training session for State Directors of National Orientation Agency (NOA) on the redesign of currency notes policy in Abuja.

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

He said, “We want to use this training session to pass the message that the CBN has enough currency notes to go round the general public.

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

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