The Central Bank of Nigeria (CBN) has warned that it will start clamping down on banks that still continue to load old notes on their Automated Teller Machines (ATMs).
Its Director of the Legal Services Department, Mr. Kofo Salam-Alada, issued the warning.
The apex bank has pegged January 31 as the day the old naira notes will cease to exist.
Salam-Alaba said the CBN is already monitoring banks that are still dispensing old naira notes from their ATMs, saying the act must stop forthwith.
The director, who represented the CBN Governor, Godwin Emefiele, spoke during a sensitization event on the new naira notes in Computer Village Market, in Lagos on Wednesday.
He said: “I can tell you today that the CBN on a daily basis issue out the new notes. As we speak, banks are with the CBN taking money. We are actually begging banks to come and take money from Central Bank. We have these new naira notes in our vaults and we are begging banks to come and take it.
“We found out that a lot of things are happening that we need to checkmate, so we stopped withdrawal of new notes over the counter to ensure that everyone can have access to it and not one chief who is known to the manager, walks in, and carts away all the new notes in a particular branch. That is why we said it should be in the ATMs which cannot distinguish people.
“We also have monitors going around banks now. I have been to some ATMs this morning and I have done the reports. We are not mobilizing the masses against the banks because the banks are there to serve you, but be rest assured that they will serve you now that they know that the CBN is on them to serve you with the new Naira notes.”
Reacting to questions from traders in the market that some people are selling the new notes, he said anyone caught selling the new notes or any denomination of the naira would be jailed.
The CBN has assured that there are more new notes that can circulate, insisting that the January 31, 2023 deadline remains unchanged, with no extension in sight.