The Bankers’s Committee has ordered commercial banks to now pay customers over-the-counter in N100, N50, N20, N10, and N5 notes, regardless of the amount withdrawn.
The Commercial banks have also been ordered to discontinue the payment of old N1,000, N500, and N200 notes across the counter.
The directive was issued today, Monday, following a meeting of the bankers’ committee in Lagos.
With this development, bank customers are encouraged to use their alternative channels for transactions, while those who insist on the new naira notes are advised to use Automated Teller Machines (ATMs).
