The Central Bank of Nigeria (CBN) has directed customers to start rejecting old naira notes from banks, insisting that the old notes ceased to be legal tender by the January 31 as earlier stipulated.
The Deputy Director, Currency Operation, Dr. Rekiyat Yusuf, disclosed this in Lokoja, Kogi State, on Thursday during the sensitization of market men and women about the redesigned naira notes.
She said that appropriate sanctions would be applied against any erring banks found dispensing old notes to customers henceforth.
The CBN,, therefore directed customers to report any bank still dispensing old notes either over the counter or through the Automated Teller Machine (ATM) to the apex bank.
Yusuf further urged traders to avail themselves of the window provided by the January 31st deadline by visiting banks to exchange the old notes with the new ones.
“There is no reason for banks to still be stocking their Automated Teller Machines with old notes as the Apex bank has made enough redesigned notes available for dispensing to members of the public. Any bank caught would be made to face appropriate sanction”, she said.