Bank Of Zimbabwe News Today : Breaking News, Live Updates & Top Stories | Vimarsana

May 3, 2021
Nigeria Stopping the Rejection of Old or Torn USD Notes Underlines Why Crypto Is a Better Reserve Currency
In early April 2021, the Central Bank of Nigeria (CBN) issued a circular warning Nigerian institutions to stop the practice of rejecting old or lower denomination USD notes. The CBN issued the warning after it became “inundated with complaints from members of the public on the rejection of such notes by banks and other authorized forex dealers.”
Rejection of Defaced or Stamped USD Notes
In the circular issued by Ahmed Umar, a director in the CBN’s Currency Operations Department, the central bank says it will sanction institutions that “refuse to accept old series/lower denominations U.S. dollar bills from their customers.” ....

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