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New Naira Notes: Emefiele, CBN Waives Conditions For Banks To Pick Up Notes

Godwin Emefiele, the governor of the Central Bank of Nigeria, stated that the central bank has instructed banks to pick up the new naira notes and has even relaxed some of the requirements for doing so.

New Naira Notes: Emefiele, Cbn Waives Conditions For Banks To Pick Up Notes, Yours Truly, Top Stories, December 1, 2023

During a tour to raise awareness of the new naira notes at Computer Village, Ikeja in Lagos on Wednesday, Emefiele said this while being represented by Mr. Kofo Salam-Alada, Director of Legal Services Department for the Central Bank of Nigeria.

He described how commercial banks used to be allotted slots. However, the CBN is currently going above to satisfy the banks’ needs.

Emefiele disclosed that the CBN approached banks to obtain fresh notes and waived restrictions on obtaining the redesigned money. Restrictions like only Over-the-counter payments. He said,

We have been requesting that banks contact the Central Bank of Nigeria from all around the nation to come pick up the new notes; in order to accommodate the banks, we have even relaxed some of the requirements for obtaining currency notes.

Prior until today, the banks were assigned slots, but the Central Bank of Nigeria is now making every effort to meet the banks’ expectations in order to service them, so that they can serve you and everyone would have access to the new naira notes.

The CBN Governor also disclosed that it is keeping an eye on the use of automated teller machines.

He stated that any bank that doesn’t pick up these fresh notes will face fines. Additionally, there will be penalties if they don’t deposit these money into their ATMs.

Indeed, there’s no going back on the January 31st deadline, therefore he advised traders to call 08176657641, 08176657642, 08176656721, and 07080650791 and submit emails to if they had any trouble obtaining the new notes.

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