Commercial Bank to Start Putting New Note Into ATM

The central bank of Nigeria (CBN) has vowed to monitor commercial banks to comply with the directive of loading the new Naira note in their ATM

This information was disclosed by the Director of Currency Operations, Ahmed Umar at the training session for State Directors of the National Orientation Agency (NOA) on the redesign of currency notes policy in Abuja.

Mr. Umar said, “We want to use this training session to pass the message that the CBN has enough currency notes to go around the general public.

“the CBN management has mandated banks to stop putting old notes in their ATM machines. They should only put the new notes.

“And there is the serialization of the policy that they can put either N500, N1000, or N200 notes, whichever denomination they have, or a combination of any of those notes; they should just put a new note in their machines.

“We are going to monitor to ensure that the banks comply, and if they don’t, we have a penalty for non-compliance.

Dr. Garba Abari, the director general also stated at the event that the agency partnered with the CBN to educate NOA members of staff at 774 local government areas to assist in enlightening Nigerians.