ATMS: CBN TO SANCTION BANKS DISPENSING OLD NOTES

The Director of the Legal Services Department of the Central Bank of Nigeria, Mr Kofo Salam-Alada, has said the agency will go tough on banks that continue to fill their ATM machines with old naira notes as the deadline to phase out the notes nears.

He said the CBN was already monitoring banks that were still dispensing old naira notes from their ATMs.

The director who represented the CBN Governor, Godwin Emefiele, spoke during a sensitisation event on the new naira notes in Computer Village Market, in Lagos on Wednesday.

He said, “I can tell you today that the CBN on a daily basis issue out the new notes. As we speak, banks are with the CBN taking money. We are actually begging banks to come and take money from Central Bank. We have these new naira notes in our vaults and we are begging banks to come and take them.