Designated agents are eligible to collect the redesigned notes from DMBs in line with the revised cash withdrawal limit policy
“Agents are also permitted to charge cash-out fees for the cash swap transactions but prohibited from charging any further commissions to customers for this service.”The bank said these agents will render weekly returns to their designated banks regarding the cash swap transactions while the banks shall in turn render the same to the CBN on a weekly basis.
“Principals shall be held accountable for their agents adherence to the above guidelines,” the circular reads.
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