Tuesday, April 20

Banks Rejecting Mutilated Naira Notes

I don’t know where the people managing the fiscal and monetary affairs of this great nation is leading her to….

Yesterday, a colleague who owns a mini supermarket went to deposit some funds in a bank here in Lagos but some of the Note were rejected by the bank for being torn… He inquired why shouldn’t a bank which is supposed to serve as a central collection point for this notes to be returned to CBN which in turns prints newer equivalent. But the bank staffs said, they are now being charged a percentage by CBN for MUTILATED Notes hence they don’t accept it anymore……..

So now how do we change bad notes, since banks and Petrol station will stop collecting it now….I wonder what a country this is…

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