CBN has threatened to sanction banks rejecting lower dollar bills.
NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN), has threatened to sanction Deposit Money Banks (DMBs) for rejecting old and small denominations of the United States of America Dollars.
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In a circular issued by the Ag. Director of Currency Operations Department of CBN, with reference: COD/DIR/INT/CIR/001/017 seen by NewsOnline Nigeria, the apex bank said its market intelligence had revealed the continued rejection of the affected Dollar notes, which it described as unacceptable.
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