Deposit Money Banks have reverted to old naira notes for over-the-counter withdrawals, as the Central Bank of Nigeria (CBN) directed lenders to halt disbursing of new notes within the banking hall.
The central bank had initially informed commercial banks to dispense the new N200, N500 and N1,000 notes via over-the-counter, Auto Teller Machines (ATM) and Point of Sales (PoS).
However, according to a Punch report on Saturday, the CBN issued circulars to banks, directing them to only load their ATMs with the new naira notes, banning withdrawal of the new currencies over-the-counter.Read more
