CBN TO BANKS: SUPPLY MINT NAIRA NOTES TO HAWKERS, PAY N150M FINE PER BRANCH
The Central Bank of Nigeria has announced that it will slam a fine of 150 million Naira per branch on Deposit Money Banks found guilty of facilitating the illegal flow of mint naira notes to currency hawkers and dishonest agents. The apex bank stated this in a circular issued and signed by the Acting Director of the Currency Operations Department, Mohammed Olayemi. To ensure compliance, the apex bank stated that it would increase periodic spot checks in banking halls and […]