Regulatory Alerts2024-07-02 | COD/DIR/INT/CIR/001/017Added · Updated
The Rejection of Old/Lower Denomination of United States Dollar by Deposit Money Banks (DMBs)/Forex Dealers
The Central Bank of Nigeria circulates a reminder to deposit money banks and forex dealers about the acceptance of old/lower denominations of US dollars. The bank instructs them to accept both old series and lower denominations of USD for deposits and warns of sanctions for non-compliance. Additionally, forex dealers are advised to refrain from defacing or stamping US dollar banknotes.
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