The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) that they will face sanctions for refusing to accept old and small denominations of US dollars.
In a circular issued by the Acting Director of the Currency Operations Department of the CBN, with reference number COD/DIR/INT/CIR/001/017, the apex bank stated that its market intelligence had uncovered ongoing refusals of these dollar notes, which it deemed unacceptable.
Details shortly
