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Just In: CBN orders banks to pay new notes over the counter

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The Central Bank of Nigeria (CBN) has reversed itself and directed banks to commence paying customers new Naira notes Over The Counter (OTC).

The apex bank said the order was to reduce queues around Automated Teller Machines (ATMs) across the country.

CBN Governor Godiwn Emefiele gave the directive in Abuja on Thursday.

A statement from CBN’s Director Corporate Communication Osita Nwanisobi, explained banks can only pay N20,000 of the new notes over the counter per day to individuals.

The statement reads: “The Govenor, 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”.

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