
Central Bank of Nigeria
Updated Penalty on Inappropriate Cash Disbursement Practices by Deposit Money Banks (DMBS)
- Author
- Central Bank of Nigeria
- Reference No.
- COD/DIR/INT/CIR/001/025
- Year
- 2024
- Pages
- 2 pages
The Central Bank of Nigeria announces a N150 million first-instance penalty per erring branch of a deposit money bank or financial institution that facilitates the illicit flow of mint banknotes to currency hawkers or other agents, with subsequent enforcement under BOFIA 2020. The circular also…