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Title : CBN Gives Instruction To Customers On Dirty Naira Notes
link : CBN Gives Instruction To Customers On Dirty Naira Notes
CBN Gives Instruction To Customers On Dirty Naira Notes
The apex bank of Nigeria has stepped up efforts to mop up dirty currency which has become a major issue in Nigeria.
Isaac Okorafor, acting director, communications department of the of the CBN said this in a statement.
He also blamed the commercial banks of putting a spanner in the works in the CBN’s attempt to use cleaner notes.
Okorafor then spoke on some of the measures taken by the CBN to get cleaner notes in circulation, including, the reduction in the amount it charges banks for sorting the dirty notes for clean ones from N12,000 to N1,000 per box.
He said this reduction in charges was in a bid to encourage more banks to bring in dirty money and exchange it for clean notes which then go back into circulation.
Seeing that the move wasn’t working as planned, the CBN has started making moves to remove the monies from circulation themselves including engaging associations in various markets to encourage traders to change genuine dirty notes for new ones.
“The bank has already taken the new measure to Kano, Kaduna and Abuja and also intends to bring it to the south,” Okorafor said.
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