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CBN directs banks to begin over counter payment of new notes

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The Central Bank of Nigeria (CBN) on Thursday ordered commercial banks to begin the payment of the new naira notes to customers over the counter.

This was confirmed in a statement issued and signed by the Bank’s Director, Corporate Communications Osita Nwanisobi.

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Nwanisobi said the maximum daily payout limit is N20,000 naira only.

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“In line with this resolve, the Governor, 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,” the statement added.

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