The Director of the Legal Services Department of the Central Bank of Nigeria, Mr Kofo Salam-Alada, has said the agency will go tough on banks that continue to fill their ATM machines with old naira notes as the deadline to phase out the notes nears.
The Director of the Legal Services Department of the Central Bank of Nigeria, Mr. Kofo Salam-Alada, has said the agency will go tough on banks that continue to fill their ATM machines with old naira notes as the deadline to phase out the notes nears.
The director who represented the CBN Governor, Godwin Emefiele, spoke during a sensitisation event on the new naira notes in Computer Village Market, in Lagos on Wednesday. “We found out that a lot of things are happening that we need to checkmate, so we stopped withdrawal of new notes over the counter to ensure that everyone can have access to it and not one chief who is known to the manager, walks in, and carts away all the new notes in a particular branch. That is why we said it should be in the ATMs which cannot distinguish people.
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