{"id":102942,"date":"2023-02-05T17:59:18","date_gmt":"2023-02-05T16:59:18","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=102942"},"modified":"2023-02-05T17:59:18","modified_gmt":"2023-02-05T16:59:18","slug":"breaking-cbn-orders-banks-to-pay-redesigned-naira-notes-over-the-counter","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/other-news\/breaking-cbn-orders-banks-to-pay-redesigned-naira-notes-over-the-counter\/","title":{"rendered":"BREAKING: CBN Orders Banks To Pay Redesigned Naira Notes Over The Counter"},"content":{"rendered":"<div dir=\"auto\">The Central Bank of Nigeria (CBN) has directed banks to commence the payment of the redesigned Naira notes over the counter.<\/div>\n<div dir=\"auto\">\nHowever, this is subject to a maximum daily payout limit of N20,000. Before now, the redesigned notes could only be paid through ATMs.<\/p>\n<p>The bank has also vowed to go after sellers and abusers of the Naira, stating that they shall be prosecuted by the apex bank, the police, and other agencies.<\/p><\/div>\n<div dir=\"auto\">\nGodwin Emefiele, CBN governor in a statement by Osita Nwanisobi Director, Corporate Communications on Thursday also urged Nigerians to exercise patience\u00a0as the CBN is working assiduously to address the challenge of queues at ATMs.<\/p>\n<p>The full statement reads:<\/p><\/div>\n<div dir=\"auto\">\n\u201cThe Central Bank of Nigeria (CBN) has observed, with grave concern, the activities of persons who sell the newly redesigned banknotes and those who flagrantly abuse the legal tender by hurling wads of Naira notes in the air and stamping on the currency at social functions.<\/p>\n<p>\u201cWe have equally noticed the queues at Automated Teller Machines (ATMs) across the country and an upward trend in the cases of people stocking and aggregating the newly introduced banknotes they serially obtain from ATMs for reasons best known to them.<\/p>\n<p>\u201cAlso worrisome are the reported cases of unregistered persons and non-bank officials swapping banknotes for members of the public, purportedly on behalf of the CBN.<\/p>\n<p>\u201cWe wish to state unequivocally that, contrary to the practice of these unpatriotic persons, it is unlawful to sell the Naira, hurl (spray), or stamp on the currency under any circumstance whatsoever. For the avoidance of doubt, Section 21(3) of the Central Bank of Nigeria Act 2007 (As amended) stipulates that \u201cspraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and shall be punishable under the law by fines or imprisonment or both.\u201d<\/p>\n<p>\u201cSimilarly, Section 21(4) states that \u201cIt shall also be an offence punishable under Sub-section (1) of this section for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Bank.\u201d<\/p>\n<p>\u201cAccordingly, the Central Bank of Nigeria (CBN) is collaborating with the Nigeria Police, Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC), and the Nigerian Financial Intelligence Unit (NFIU) to address the unpatriotic practice. We, therefore, warn Nigerians, particularly those at social functions such as birthdays, weddings, and funerals, to desist from disrespecting the Naira or risk being arrested by law enforcement agencies.<\/p>\n<p>\u201cWhile reiterating our commitment to Nigerians to ensure the effective distribution of the newly introduced Naira banknotes, we urge them to exercise patience as the CBN is working assiduously to address the challenge of queues at ATMs.<\/p>\n<p>\u201cIn line with this resolve, the governor, Mr. Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000.<\/p>\n<p>\u201cWe also admonish members of the public to embrace and adopt other payment channels for their transactions. The Naira is our legal tender and symbol of national pride. Therefore, let us respect it and handle it with care. \u201d<\/p>\n<div class=\"yj6qo\"><\/div>\n<div class=\"adL\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Nigeria (CBN) has directed banks to commence the payment of the redesigned Naira notes over the counter. However, this is subject to a maximum daily payout&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":102943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-102942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BREAKING: CBN Orders Banks To Pay Redesigned Naira Notes Over The Counter - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/other-news\/breaking-cbn-orders-banks-to-pay-redesigned-naira-notes-over-the-counter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING: CBN Orders Banks To Pay Redesigned Naira Notes Over The Counter - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria (CBN) has directed banks to commence the payment of the redesigned Naira notes over the counter. However, this is subject to a maximum daily payout&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/other-news\/breaking-cbn-orders-banks-to-pay-redesigned-naira-notes-over-the-counter\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-05T16:59:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/02\/Godwin-Emefiele-and-New-naira-notes.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"780\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/other-news\/breaking-cbn-orders-banks-to-pay-redesigned-naira-notes-over-the-counter\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/other-news\/breaking-cbn-orders-banks-to-pay-redesigned-naira-notes-over-the-counter\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"BREAKING: CBN Orders Banks To Pay Redesigned Naira Notes Over The Counter\",\"datePublished\":\"2023-02-05T16:59:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/other-news\/breaking-cbn-orders-banks-to-pay-redesigned-naira-notes-over-the-counter\/\"},\"wordCount\":547,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/other-news\/breaking-cbn-orders-banks-to-pay-redesigned-naira-notes-over-the-counter\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/02\/Godwin-Emefiele-and-New-naira-notes.jpg\",\"articleSection\":[\"Other News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/other-news\/breaking-cbn-orders-banks-to-pay-redesigned-naira-notes-over-the-counter\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/other-news\/breaking-cbn-orders-banks-to-pay-redesigned-naira-notes-over-the-counter\/\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/other-news\/breaking-cbn-orders-banks-to-pay-redesigned-naira-notes-over-the-counter\/\",\"name\":\"BREAKING: CBN Orders Banks To Pay Redesigned Naira Notes Over The Counter - 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