WATCH THE VIDEO HERE THE Central Bank of Nigeria (CBN) has issued a warning to Deposit Money Banks (DMBs) and authorised forex dealers, advising them against rejecting old and lower dollar denominations from customers in the country. According to the apex bank, the directive became necessary as it had been inundated with complaints from customers after it conducted consumer market intelligence. In a circular dated June 27, 2024 but made public by the apex bank on Monday, CBN’s Acting Director, Currency Operations Department, Solaja Olayemi, said the regulator frowned at “this selective acceptance of deposit” and that all relevant parties comply accordingly.
CBN warns banks, BDCs against rejection of lower dollar bills
