Commercial banks are in receipt of a circular originating from the Central Bank of Nigeria, CNB, to stop payment of new notes to customers over the counter.
Rather, the banks’ operators are told to load their Automated Teller Machine, ATM, with the new notes for the benefit of their customers.
This is as per Punchng citing the memo entitled, ‘Urgent update on currency redesign’, which according to the publication was signed by the Group Head, Retail Operation of the apex bank.
Quoting the memo, the paper wrote: “The CBN has mandated that we immediately stop the Over-the-Counter payment of the new N200, N500 & N,1000 currency. Instead, all new notes should be loaded into the ATMs for customer withdrawals.
“This is effective immediately please.”
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