The Central Bank of Nigeria has ordered Deposit Money Banks not to pay customers making over-the-counter withdrawals of new naira notes again.
Instead, the apex bank directed the banks to load their Automated Teller Machines with only new notes to ensure that the currency circulates across the nation ahead of the January 31, 2023 deadline when the old notes will no longer be legal tender.
The apex bank issued the directive to the banks on Wednesday and ordered that the implementation must begin immediately.
However, as of yesterday, the banks had not been able to comply with the directive as they complained of inadequate supply of the new notes, prompting them to load their ATMs with the old notes.
When contacted, the CBN spokesman, Osita Nwanisobi, did not respond to enquiries by newsmen as subsequent calls to his mobile line were not taken. Text and WhatsApp messages sent to his telephone were not replied.
However, a senior official of the CBN, who spoke on condition of anonymity, confirmedthat the apex bank indeed issued the directive to the banks.
