CBN to Nigerians - Report banks rejecting dirty naira notes

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Central Bank of Nigeria (CBN) has tell Nigerians to report any Commercial Banks that reject dirty Naira Notes, or tire notes.

CBN give the directive on Tuesday, April 30, when lunching a clean Note policy and Banknote fitness guideline in Lagos.

CBN also reveal that the Clean Note Policy and Banknote Fitness Guidelines will also be made available to bank customers so that they can be aware when any banks default the police and needed to be penalized.

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Priscilla Eleje, the director of currency operations department of the CBN, who speak on the occasion, said the regulator will frequently carry out investigation on bank branches, with the complaints received from customers, which will give a directive of where to go.

She said, “Complaints from customers on any bank not accepting dirty notes will serve as a trigger for the CBN to know where to go and penalty for defaulting banks," .

She said the general public bear in mind that there should also be a banner in every banking hall for customers to know the Note Policy and Banknote Fitness Guidelines and their rights as stipulated in it,”.

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Eleje also disclose that the CBN had put in place mobile courts to try currency counterfeiters to serve as a lesson to others.

She said the CBN will continue to create public awareness on the basic security features of the notes, the risk of sale of the naira, and proper handling attitude of the banknotes by the public.

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As a result of that, CBN, therefore, outline an abused or a mutilated naira to be a note of poor quality needed special look before its value can be determined.

The CBN said misused of banknote could be one that led to partially/permanent damaged by fire, water, dye, insects, rodents or one damaged by natural disasters.

CBN, however, said all money deposited in the bank will continue to witness with damage naira note from the general Public .

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