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Central Bank of Nigeria

Updated Penalty on Inappropriate Cash Disbursement Practices by Deposit Money Banks (DMBS)

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Author
Central Bank of Nigeria
Year
2024
Pages
2 pages

The Central Bank of Nigeria notifies deposit money banks and financial institutions of a N150 million initial penalty per erring branch for facilitating or enabling the illicit flow of mint Naira banknotes to currency hawkers and other agents. The circular announces intensified spot checks of…

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