Following discovery that Sterling Bank was hoarding the new Naira notes, preventing its customers from accessing their funds, the firm has waved charges on transfers.
A monitoring team of the Central Bank of Nigeria (CBN) had uncovered new Naira notes worth N6 million hidden in Sterling Bank branch located in Ado-Ekiti.
Sterling Bank had hoarded the redesigned Naira notes despite CBN’s standing order that the new N200, N500 and N1,000 banknotes should be loaded into the Auto Teller Machines (ATM) to dispense to customers or provide it over the counter.
