The Central Bank of Nigeria (CBN) has ordered commercial banks to begin issuing the redesigned naira notes over the counter to customers.
In a statement, CBN Governor Godwin Emefiele stated that the new directive was issued to alleviate the difficulties that Nigerians are having in accessing the new notes, as well as to cut lineups at automated teller machines (ATMs) across the country.
The CBN’s Director Corporate Communication Osita Nwanisobi who signed the statement explained that 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”.