National Wire About Nigerians, Nigerian Business and Other Stories
CBN To Fine Banks For Paying Counterfeit Banknotes
The Central Bank of Nigeria has imposed a penal fee of N1m on each branch of Deposit Money Banks for non-compliance with its ‘Banknote fitness guidelines and clean note policy documents for the industry.’ The regulator disclosed this in a circular to all DMBs on ‘Penalty for payment of counterfeit monies from ATMs, Teller Points’ on Wednesday. It said, “The …
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