JUST IN: CBN to sanction banks rejecting old, lower dollar denominations

The Central Bank of Nigeria (CBN) has vowed to sanction commercial banks rejecting old and lower dollar denominations.

In a circular issued by the Acting 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.

More details shortly…