New notes in Nigeria

Positive supply: The CBN said there is enough supply of the new notes to commercial bank ATMs, and urged banks to desist from keeping cash away. ”The CBN has ...

The CBN Governor also advised Nigerian to deposit old notes before the deadline, insisting that there is no going back. - “The Governor should compel banks to open an exchange window where people who don’t have a bank account can exchange their old notes with the new note.” Positive supply: The CBN said there is enough supply of the new notes to commercial bank ATMs, and urged banks to desist from keeping cash away.

The House of Representatives may be on a collision course with the Central Bank of Nigeria over the redesign of naira notes and the January 31 deadline set ...

We are trying to clear out all the old notes we have at the moment but the old notes that were already on the machine were still being dispensed today. And immediately after the engagement with them, we would engage the bank operators.” However, Ado-Doguwa, at the inaugural investigative hearing of the committee, stated, “For the purposes of clarification, I want to say without any fear of contradiction, that the parliament is always an institution that represents the Nigerian people. The source said, “We were still paying old notes on our machines as of today. An ad hoc committee set up by the House to investigate the scarcity of the new naira at commercial banks on Wednesday frowned at the failure of the management staff of the apex bank to appear before it on Thursday. The House of Representatives may be on a collision course with the Central Bank of Nigeria over the redesign of naira notes and the January 31 deadline set for the exchange of the old notes with the new ones.

Nigerians have lamented the non availability of new naira notes from banks and their ATMs as the entire banking industry has been hit with a massive cash ...

“I’ve been inside the bank but they refuse to pay me. They say I can only get the old notes. However, the CBN has insisted that there is no shortage of new naira notes in the banking system. [Lagos](https://www.legit.ng/tag/lagos-state-news-today/) reported being out of the newly redesigned naira notes and their ATMs were not also dispensing. - The CBN said there is enough of the new naira notes to go around, insisting on January 31, 2023 deadline - Many of the banks reported running out of the new naira notes and could not load their ATMs

BusinessDay surveyed ATMs and markets in some local communities in Lagos and the Federal Capital Territory and found that most ATMs in the various areas are ...

Also, a business owner in Bannex, Abuja, said he hardly spends his new notes except when necessary. I hope banks pump in new notes aggressively, many of us may not meet up,” he cried. Some people have the new notes but are not spending them. Very few people patronise me with the new money. “The new notes are scarce here. “Most of the ATMs here are still dispensing the old notes and the few that have new notes have large crowds,” said Joy James, a resident in the Lokogoma district of Abuja.

Speaking at a media briefing in Jos on Wednesday, Godwin Emefiele, CBN governor, said the apex bank has “massively” supplied banks with the new currency and ...

“The monitoring and sensitisation project was activated by the apex bank for investigation of the attitude of banks toward the spread of the new currencies,” Emefiele explained. “The CBN has massively supplied the new notes to commercial banks to dispense both at counters and ATMs,” NAN quoted him as saying. [Central Bank of Nigeria](https://www.cbn.gov.ng/) (CBN) has dismissed claims of a scarcity of the new naira notes.

The CBN Governor, Godwin Emefiele, represented by Musa Jimoh, Director, Payment System Management Department of the bank, denied the allegation in a news ...

“The Monitoring and Sensitisation project was activated by the apex bank for investigation of the attitude of banks toward the spread of the new currencies. The CBN governor explained that the decision to redesign the currency shows that the apex bank is in tandem with global standards, adding that currency notes ought to be redesigned within five years. ”The CBN has massively supplied the new notes to commercial banks to dispense both at counters and ATMs.