Pay N5, N10, N20, N50, and N100 To Customers, CBN Tells Banks

The Central Bank Of Nigeria, (CBN) has directed all commercial banks to pay customers over the counter in N100, N50, N20, N10, and N5 notes, regardless of the amount withdrawn.

Bankers Committee issued the directives to all commercial banks in the country on Monday, and also announced the discontinuation of old notes payments of N1000, N500, and N200 across the counters

The committee noted that bank customers are encouraged to use their alternative channels for transactions, while those who insist on new Naira notes are advised to use Automated Teller Machines (ATMs).

The directives were issued on Monday, following a meeting of the banker’s committee in Lagos State.