CBN to query banks dispensing old notes via ATMs

• Published date: 19 January 2023
• Publication title: Nigeria - The Nation

The Central Bank of Nigeria (CBN) has vowed to query banks that dispense old notes from their Automated Teller Machines(ATMs).

A Director at the CBN and serving Managing Director of NIRSAL Microfinance Bank Dr. Abdullahi Abubakar Kure handed down the warning in Abuja when he led a team of CBN officials on an unscheduled visit to banks in Abuja.

At Guaranty Trust Bank on Adetokunbo Ademola Wuse 2 Abuja, the team withdrew old cash from all the ATM machines on the premises.

The story was different at Access Bank also on Adetokunbo Ademola where an ATM dispensed new notes.

After the exercise, Kure said the CBN would query banks found hoarding and or diverting the new notes and dispensing old cash.

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