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CBN Urges Nigerians To Reject Dirty Naira Notes

CBN Urges Nigerians To Reject Dirty Naira Notes

Business

CBN Urges Nigerians To Reject Dirty Naira Notes

The Central bank of Nigeria has urged Nigerians to reject dirty naira notes, adding that it is their right to do so when given by banks. This was made known by the financial institution’s acting director of the communications department, Isaac Okorafor, in a statement.

Apex Bank Moves To Remove Dirty Monies From Circulation

CBN Urges Nigerians To Reject Dirty Naira Notes

CBN Urges Nigerians To Reject Dirty Naira Notes

The Central bank of Nigeria has urged Nigerians to reject dirty naira notes, adding that it is their right to do so when given by banks. This was made known by the financial institution’s acting director of the communications department, Isaac Okorafor, in a statement.

Okoroafor blamed commercial banks of putting a spanner in its attempt to use cleaner notes, but reiterated that the apex bank will continue its efforts to rid the country of dirty currency.

He disclosed that some of the measures been taken by the CBN to get cleaner notes in circulation, including, the reduction in the amount it charges banks for sorting the dirty notes for clean ones from N12,000 to N1,000 per box.

NIGERIA NEWS gathered from Okoroafor that the reduction in charges was a means to encourage more banks to bring in dirty money and exchange it for clean notes back into circulation.

However, he stated that the move wasn’t working as planned, and the apex bank itself, has started moves to remove the dirty monies from circulation including engaging associations in various markets to encourage traders to change genuine dirty notes for new ones.

“The bank has already taken the new measure to Kano, Kaduna and Abuja and also intends to bring it to the south,” Okorafor stated.

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