New naira

The Nigerian Security Printing and Minting PLC has said the new naira notes leave traces of traces of intaglio inks when rubbed on plain white surfaces.

It also leaves traces of intaglio inks when rubbed on plain white surfaces. “It is, therefore, basically the same as the other notes in circulation. Indeed, Nigeria has achieved zero importation of currency, developed local capacity and, to an extent, conserved foreign exchange within this period.”

In an effort to increase circulation, the Central Bank of Nigeria (CBN) has ordered commercial banks to stock their automated teller machines (ATMs) with ...

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The Managing Director of the Nigerian Security Printing and Minting (NSPM) Plc, Ahmed Halilu, says the recently redesigned naira banknotes – N200, N500, and N1, ...

It is, therefore, basically the same as the other notes in circulation.” This is generally a security feature of all banknotes that easily differentiates them from forged or counterfeited notes,” he said. Indeed, Nigeria has achieved zero importation of currency, developed local capacity and, to an extent, conserved foreign exchange within this period,” Halilu said.

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 |

[Investigations3 months ago](https://www.ripplesnigeria.com/investigation-inside-kwara-school-where-students-are-used-as-labour-on-teachers-private-farms/) [Investigations3 months ago](https://www.ripplesnigeria.com/investigation-how-n70m-road-construction-created-more-hardship-for-sokoto-residents/) “If you observed, a lot of ATMs were inactive during the Christmas and New Year holidays. [Investigations1 month ago](https://www.ripplesnigeria.com/special-report-world-bank-road-projects-go-bad-in-enugu-as-state-govt-fails-to-fulfill-promise/) What we have done in my branch is to mix the few new N1,000 and N500 notes available with old ones so that desperate customers can make withdrawals and meet their immediate needs. When our bank tested the ATMs, only one denomination of the new notes passed the test of dispensing seamlessly through our machines. [Investigations1 month ago](https://www.ripplesnigeria.com/students-suffer-as-contractors-abandon-kano-school-projects-after-receiving-over-n70m/) It was learnt that the ATM is not dispensing all the new naira notes seamlessly, according to the source. [Investigations4 weeks ago](https://www.ripplesnigeria.com/investigation-in-cross-river-civil-servants-retire-into-poverty-as-govt-looks-away-squanders-funds-on-frivolities/) The correspondence from the head office said the directive was from the CBN and that we should implement it immediately. Instead, all new notes should be loaded into the ATMs for customer withdrawals. [Business](https://www.ripplesnigeria.com/business/)

The Central Bank of Nigeria (CBN) has ordered banks to stop over-the-counter payment of new naira notes; The new notes will only be available via ATM ...

However, the scarcity of the new naira notes has made it difficult for banks to comply. The ₦200 will be available later. Addressing the scarcity of the new notes, the official said, “From this weekend, new notes will be available for disbursement to bank customers.

*Says banks not banned from paying new notes over the counter. Nume Ekeghe. Amid the rising demand for the new naira notes, the Central Bank of Nigeria ...

For us, the 31st of January remains the date when old notes would cease to be legal tender in Nigeria.” The old notes remain a legal tender until the January 31st so it would still be in circulation.” Responding to complaints that the deposit money banks do not have access to new notes, he said: “That position is not entirely correct. “We had a meeting and we had moral suasion because people are complaining they are not seeing new notes. Osita Nwanisobi, who spoke with THISDAY at the weekend, said adequate plans have been made to heighten the circulation of the new notes. I never said they shouldn’t pay across the counter,” he clarified.