BREAKING: CBN Threatens To Sanction Banks Rejecting Lower Dollar Bills

CBN has threatened to sanction banks rejecting lower dollar bills.

NaijaOnPoint Nigeria reports that the Central Bank of Nigeria (CBN), has threatened to sanction Deposit Money Banks (DMBs) for rejecting old and small denominations of the United States of America Dollars.

In a circular issued by the Ag. Director of Currency Operations Department of CBN, with reference: COD/DIR/INT/CIR/001/017 seen by NaijaOnPoint Nigeria, the apex bank said its market intelligence had revealed the continued rejection of the affected Dollar notes, which it described as unacceptable.

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