By PATRICK ABANG, Calabar –
The Central Bank of Nigeria (CBN) has threatened to sanction erring banks who are still dispensing old naira notes through the Automated Teller Machine (ATM).
The CBN Branch Controller in Cross River State, Ms. Glory Iniunam gave the warning in Calabar during a sensitization tour of major market in Calabar South LGA and Calabar Municipal Council of the state.
Ms. Iniunam said: “We are here to sensitized the people on the acceptance of the new redesigned naira notes, to let people know that on 31st January, 2023 the new notes will cease to exist”
“For now, the banks are not supposed to feed the ATM with old naira notes, it is an offence to dispense old naira notes on ATM machine.
“There is going to be stiff penalties for defaulting banks because we are doing spot check on banks across the country.
Places visited by the CBN team included: the popular Watt market , Calabar South local government, Etim Edem park in Calabar municipal Council, others include Bogobiri , Mariam market, Ikot Ishie market, omong others.
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