CBN Orders Banks to Put New Currency in ATM Machines

The Central Bank of Nigeria (CBN) has ordered banks to stop issuing new currency to customers who enter the bank to withdraw money, instead, deposit the new currency into their ATM machines.

This is in order to ensure that the money reaches the public before the deadline of 31st of this month as set by the central bank for people to stop using the old money.

Reports say that the CBN has ordered the banks to speed up the implementation of this directive.

Last October, the Central Bank of Nigeria, CBN, announced the change in the nature of the country's currency, ordering people to return their old bank notes to replace them with new ones.