Afrigather 
The Central Financial institution of Nigeria (CBN) has directed industrial banks to start the fee of redesigned naira notes to prospects over-the-counter, with a most payout restrict of N20,000 per day.
Director Company Communication, CBN, Osita Nwanisobi disclosed this in an announcement including that the apex financial institution will collaborate with the Nigeria Police, Federal Inland Income Service (FIRS), the Financial and Monetary Crimes Fee (EFCC) and the Nigerian Monetary Intelligence Unit (NFIU) to prosecute abuses and sellers of the naira.
He mentioned, “The Central Financial institution of Nigeria (CBN) has noticed, with grave concern, the actions of individuals who promote the newly redesigned banknotes and people who flagrantly abuse the authorized tender by hurling wads of Naira notes within the air and stamping on the forex at social capabilities.
“We have now equally seen the queues at Automated Teller Machines (ATMs) throughout the nation and an upward pattern within the instances of individuals stocking and aggregating the newly launched banknotes they serially receive from ATMs for causes greatest recognized to them. Additionally worrisome are the reported instances of unregistered individuals and non-bank officers swapping banknotes for members of the general public, purportedly on behalf of the CBN.
Additionally Learn: Update: Emefiele Assures Banks Will Accept Old Naira Notes After Deadline
“We want to state unequivocally that, opposite to the apply of those unpatriotic individuals, it’s illegal to promote the Naira, hurl (spray), or stamp on the forex beneath any circumstance in any respect.
For the avoidance of doubt, Part 21(3) of the Central Financial institution of Nigeria Act 2007 (As amended) stipulates that “spraying of, dancing or matching on the Naira or any be aware issued by the Financial institution throughout social events or in any other case howsoever shall represent an abuse and defacing of the Naira or such be aware and shall be punishable beneath the regulation by fines or imprisonment or each.”
“Equally, Part 21(4) states that “It shall even be an offence punishable beneath Sub-section (1) of this part for any particular person to hawk, promote or in any other case commerce within the Naira notes, cash or every other be aware issued by the Financial institution.”
“Accordingly, the Central Financial institution of Nigeria (CBN) is collaborating with the Nigeria Police, Federal Inland Income Service (FIRS), the Financial and Monetary Crimes Fee (EFCC) and the Nigerian Monetary Intelligence Unit (NFIU) to handle the unpatriotic apply.
“We, subsequently, warn Nigerians, notably these at social capabilities equivalent to birthdays, weddings and funerals, to desist from disrespecting the Naira or danger being arrested by regulation enforcement companies.
“Whereas reiterating our dedication to Nigerians to make sure the efficient distribution of the newly launched Naira banknotes, we urge them to train endurance because the CBN is working assiduously to handle the problem of queues at ATMs.
“According to this resolve, the Governor, Mr. Godwin Emefiele, has directed deposit cash banks (DMBs) to start the fee of the redesigned Naira notes over-the-counter, topic to a most each day payout restrict of N20,000.
“We additionally admonish members of the general public to embrace and undertake different fee channels for his or her transactions. The Naira is our authorized tender and image of nationwide satisfaction. Due to this fact, allow us to respect it and deal with it with care”.
The apex financial institution added that the brand new directive was to alleviate the challenges that Nigerians are experiencing with having access to the brand new notes, in addition to scale back queues on the automated teller machines (ATMs) nationwide.
