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CBN To Banks: Collect Redesigned Notes Or Face Sanctions

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The Central Bank Governor, Mr Godwin Emefiele, has called on commercial banks to approach the apex bank branches across the country to pick up the new naira notes.

Emefiele made the call when the apex bank took its sensitisation tour on the adoption of the newly redesigned naira notes to Computer Village, Ikeja, on Wednesday in Lagos.

He said that the new naira notes were in the apex bank’s vaults awaiting pick up by the commercial banks.

Emefiele who was represented by Mr Kofo Salam-Alada, Director, Legal Services Department, CBN, said that the apex bank is seriously working to ensure that the new notes are permeated everywhere.

He also said that penalties await any bank which failed to come and pick up the new notes and failure to lodge money into their ATM machines.

He assured marketers that the experiences they were having would soon be sorted out.

Emefiele reiterated that the Jan. 31 deadline for the submission of the old naira notes is not changing, urging people to go and deposit their old notes and not to be caught unawares.

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