New naira banknotes: CBN makes strong allegations and threatens to go after banks that load ATMs with old banknotes

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Despite the approaching deadline for use of the new naira note, commercial banks across the country are not picking up the notes, the Central Bank of Nigeria (CBN) has said.

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Daily Trust reports that the CBN said it pleaded with commercial banks across the country to collect the new notes to no avail.

In 2022, the CBN announced an overhaul and subsequent launch of N200, N500 and N1000 banknotes on December 15, noting that the old ones would cease to be legal tender by January 31.

Although the acceptance and wide circulation of the new banknotes caused concern, their scarcity was the order of the day less than two weeks before the stipulated deadline.

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Speaking at a sensitization program in Lagos, the head of the CBN’s legal department, Kofo Salam-Alada, said the apex bank would crack down on banks that continue to fill their ATMs with old banknotes. naira.

Salam Alada said:

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“I can tell you today that the CBN is issuing new banknotes daily. As we speak, the banks are with the CBN taking money. We are actually begging the banks to come and take money from the Central Bank. We have these new naira notes in our vaults and we are begging the banks to come and take them. We have found out that there is a lot going on that we need to watch out for, so we have stopped withdrawing new notes at the counter to make sure everyone can access it and not a single boss known to the manager comes in and takes all the new tickets from a particular branch with them.

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“That’s why we said it should be in ATMs that can’t tell people apart.”

Salam-Alada also noted that the apex bank has monitors around the banks to ensure that the right thing is done to speed up the circulation of new naira notes.

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A new date has been set for the hearing of the CBN Governor’s case regarding the $53 million court debt arising from the Pars Club repayment.

In a new decision on Wednesday January 18, the Abuja court adjourned the case until March 20, without cause.

Meanwhile, an attorney, Joe Agi, SAN, had obtained a summons to judgment against the CBN Governor over his alleged refusal to obey the court order for payment of the judgment debt.

DSS decision to question bank CEOs on currency allocations dating back to 2017

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CBN sends important updates to banks, customers on old naira notes, countdown begins

Nigeria’s secret police, the Department of State Security Services (DSS), has launched an investigation into the currency received and allocations to bank customers by every bank in the country and the involvement of the Central Bank of Nigeria. Nigeria (CBN).

The move comes at a time when the spotlight is intensifying on CBN Governor Godwin Emefiele, who reportedly returned to work on Monday, January 16, 2022, after learning he would be arrested over fraud and terrorist financing allegations. .

Bank CEOs have been given the Wednesday, January 18, 2023 deadline to provide detailed information on privileged individuals and entities that have obtained currency allocations since 2017 to date.

Source: Legit.ng

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