2021-04-12 | COD/DIR/INT/CIR/001/002

The Rejection of Old/Lower Denomination of United States Dollar by DMBs/FOREX Dealers

The Central Bank of Nigeria has received complaints about the rejection of old and lower denominations of US dollars by banks and forex dealers. The CBN directs all banks and authorized forex dealers to accept both old series and lower denominations of USD that are legal tender for deposit. Failure to comply with this directive will result in sanctions.

Nigeria

Central Bank of Nigeria

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