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CBN To Penalize Banks For Mutilated Naira Notes

The Central Bank of Nigeria (CBN), will impose a penalty of N400 on deposit money banks (DMBs) for every mutilated N100 sent to the apex bank. The penalty took effect from April 1. The CBN, in a circular issued by the director of Currency Operations, Ahmed Umar, the apex bank warned DMBs to stop bringing […]

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