Business - Companies
Updated: January 20, 2023

Lagos ATMs Now Dispensing New Naira Notes

By Felicia Abisola Olamiji
January 20, 2023
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The Central Bank of Nigeria (CBN) monitored some banks on Lagos Island and has expressed satisfaction with the level of compliance with the directive to load the newly-redesigned notes in their machines.

The apex bank had earlier given a directive to banks to stop paying the new notes (N1,000, N500 and N200), over the counter so as to enable customers to have access to the new notes even when banking halls are closed for business.

The newly-redesigned N1,000, N500 and N200 bills became legal tender on December 15, 2022, while the old notes will cease to be legal tender from January 31.

The CBN Governor, Godwin Emefiele, had, however, stated that the January 31 deadline remains sacrosanct.

He called on commercial banks to approach the apex bank branches across the country to pick up the new naira notes as some of the conditionality for accessing currency notes has been waived in order to accommodate the banks.