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BREAKING: CBN Threatens To Sanction Banks Rejecting Lower Dollar Bills

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.

by NewsOnline Nigeria
July 2, 2024
in News
0
CBN

Central Bank of Nigeria

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.

 

ALSO: Petrol Price Rises To ₦937 Per Litre Amid Hardship

 

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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