Tuesday, January 22, 2019 1:37:29 PM- Nigerian Stock Exchange.

  CBN tells people to reject old notes at banks


May 11 (Lagos) - In a statement, Isaac Okorafor, acting director, communications department of the of the CBN said The Central bank of Nigeria has urged Nigerians of their right to demand new notes from banks and reject dirty notes as the CBN continues its efforts to rid the country of dirty currency.

He also said that CBN had reduced the charge for sorting old notes from N 12,000 per box to N 1,000 per box. 

But he did not say what you should do if the bank tells you that "these notes are all we have at the moment". 

CBN must do more to check this issue because most of the times what we get from banks is old dirty notes. CBN should also think about educating people in local markets about how to handle money in a better way so that currency notes do not become so dirty. 

CBN is in a tough situation and is clearly trying to do something about it. 

In the end it comes down to how people use the currency notes. If you go to local markets and its easy to see how Naira notes become dirty due to the manner in which they are held by shop owners and customers. 

Its a deep rooted issue. 

This statement from CBN is useless unless they introduce a hotline where customers can report the bank branch which refused to give clean notes to its customers. Otherwise it is "take it or leave it" situation. 

reporting for easykobo.com on Friday, May 11 2018 from Lagos, Nigeria

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