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music_note
11 | 13 CBN will fine banks ₦1million daily for not issuing new notes
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Emefiele warned that any commercial bank that failed to issue the new naira notes to customers would be fined N1 million on a daily basis.
The CBN governor, who was represented by the apex bank’s Deputy Director, Adeleke Adelokun, issued the warning at a sensitisation on the new naira notes organised for market women in Ayegbaju International Market, Osogbo, Osun State.
He said that the apex bank had printed enough naira notes to serve Nigerians.
“As of today, CBN has printed enough new naira notes of N200, N500 and N1,000.
“But, what we discovered was that most of the banks that are supposed to collect the new notes have not collected them. So we have put a sanction on the banks.