CBN Warns Against Rejecting, Reduced U.S Dollar Denominations

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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.

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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