The Central Bank of Nigeria (CBN) has issued a warning to commercial banks that have ATMs stocked with old notes that are set to lose their legal tender status by January 31st.
During a sensitization program in Lokoja, the Kogi State capital, the Deputy Director of Currency Operations, Dr. Rekiyat Yusuf, stated that any ATM found to still have old notes will be shut down and that the operating bank will face appropriate sanctions.
Dr. Yusuf urged traders to take advantage of the January 31st deadline to exchange their old notes for the newly redesigned 200, 500, and 1,000 naira notes.
She emphasized that the CBN has made enough redesigned notes available for dispensing to the public, and that there is no reason for banks to still be stocking their ATMs with old notes.