The Central Bank of Nigeria (CBN) has falsified all Deposit Money Banks (DMBs) and Bureau de Change operators from the nation to accept both old show and reduced denominations of United States Dollars which are legal tender for deposit in their own clients.
This became necessary following complaints by the public about the rejection of old/lower denominations of their U.S dollar invoices by deposit money banks and other licensed forex traders.
#CBN mandates Deposit Money Banks (DMBs) and Authorized Forex dealers to accept both old series and lower denominations of United States Dollars(USD) that are legal tender for deposit from their customers…https://t.co/eyDAuQ2FX4
— Central Bank of Nigeria (@cenbank) April 21, 2021
It further advised all foreign exchange traders to desist from defacing/stamping U.S Dollar banknotes as such notes constantly fail authentication evaluation during processing/sorting.
Rejection of Lower Denomination of Dollar
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