Nigeria’s Central Bank To Sanction Banks Dispensing Old Notes 

The Director of the Legal Services Department of the Central Bank of Nigeria, Mr. Kofo Salam-Alada, says the agency will go tough on banks that continue to fill their ATM machines with old naira notes as the deadline to phase out the notes nears. <br />He says the CBN was already monitoring banks that were still dispensing old naira notes from their ATMs. <br />The director says anyone caught selling the new notes or any denomination of the naira would be jailed.