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CBN reveals only way to get new naira notes



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The Central Bank of Nigeria has announced another directive in line with the new naira notes.

The apex bank has directed commercial banks to stop issuing new naira notes over the counter. This directive was contained in a memo sent to staff by an unnamed Tier-1 bank’s Group Head, Retail Operation, titled ‘Urgent update on currency redesign.’


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CBN reveals only way to get new naira notes 2
Old naira notes

Customers who need cash from the bank counters will only be issued old notes, which are expected to stop being legal tender. The Central Bank of Nigeria only wants banks to load their ATMs with new notes.

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CBN reveals only way to get new naira notes 3
New naira notes

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The memo stated:

“The CBN has mandated that we immediately stop the Over-the-Counter payment of the new N200, N500 & N,1000 currency. Instead, all new notes should be loaded into the ATMs for customer withdrawals. This is effective immediately please.”

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