CBN issues a Serious directive to Customers against commercial banks

The Central Bank of Nigeria (CBN) on Tuesday, April 30, called on all Nigerians to report any commercial bank rejecting dirty, defaced or mutilated naira notes.

The apex bank during the launch of the Clean Note Policy and Banknote Fitness Guidelines in Lagos said it will also make public the guidelines on clean note policy to banks.

The announcement was made at an event, by the director of currency operations department of the CBN, Priscilla Eleje.

She said the guidelines will also be made available to aid bank customers to know when any lender is not complying and needs to be sanctioned.

She said the regulator will regularly carry out spot checks on bank branches, based on complaints from customers, which will serve as guide on where to go. “Complaints from customers on any bank not accepting dirty notes will serve as a trigger for the CBN to know where to go and penalty for defaulting banks,” Eleje said.

The director noted that there should also be a banner in every banking hall for customers to understand the Note Policy and Banknote Fitness Guidelines and their rights as stipulated in it,” she said

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