BREAKING: CBN to sanction banks for rejecting old, small Dollar denominations

The Central Bank of Nigeria (CBN) has threatened to sanction Deposit Money Banks (DMBs) for rejecting old and small denominations of the United States of America Dollars.

In a circular issued by the Ag. Director of Currency Operations Department of CBN, with reference: COD/DIR/INT/CIR/001/017, the apex bank said its market intelligence had revealed the continued rejection of the affected Dolla notes, which it described as unacceptable.

Details soon….