The Central Bank of Nigeria (CBN) is set to impose a fine of N1 million daily on any commercial bank that do not pick up the new Naira notes for distribution to customers in the country.
The CBN’s Deputy Director in charge of Research, Osun State branch, Adeleke Adelokun, made this known during a sensitization programme on the new Naira notes at the Ayegbaju Market in Osogbo.
He said the apex bank has printed enough new naira notes but most banks are not collecting the money.
Adelokun said: “When we learnt they refused to receive the new Naira notes, we sanctioned the bank with a fine of one million Naira per box every day, depending on the number of days.
“We also directed banks to place fresh naira notes at ATMs around Nigeria so that Nigerians could use the new notes.
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