CBN Directs Banks To Pay Customers With Only ₦100, ₦50, ₦20, ₦10, ₦5 Over The Counter

Commercial banks will now pay customers over-the-counter in ₦100, ₦50, ₦20, ₦10, and ₦5 notes, regardless of the amount withdrawn.

The Bankers Committee issued the directives to all commercial banks in the country on Monday.

They also announced the discontinuation of old notes payment of ₦1000, ₦500 and ₦200 across the counters.

The committee noted that bank customers are encouraged to use their alternative channels for transactions.

Those who insist on new Naira notes are advised to use Automated Teller Machine (ATMs).

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