Stella Dimoko Korkus.com: CBN Imposes N150 Million Fine On Banks Releasing Redesigned Naira Notes To Currency Hawkers...

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Sunday, December 15, 2024

CBN Imposes N150 Million Fine On Banks Releasing Redesigned Naira Notes To Currency Hawkers...

The Central Bank of Nigeria (CBN) has imposed a ₦150 million fine on banks guilty of releasing the redesigned naira notes to currency hawkers.
The hawking of new naira notes became rampant after the introduction of the redesigned ₦200, ₦500, and ₦1,000 denominations. Reports of these notes being sold on the black market at exorbitant rates  prompted the CBN to take stricter action.

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