The CBN has disclosed that a commercial bank in Ogun State mismanaged N4 million of the new notes.

The apex bank says such acts sabotage efforts to make sure the new naira notes are available for all.

The CBN says it will appropriately sanction erring banks that are involved in such criminality.

Advertisements

According to Punch, this was disclosed by the CBN’s Deputy Director, Banking Supervision Department, Kayode Makinde, in a chat with newsmen on Tuesday, January 31, 2023, while on a monitoring exercise in Ogun State.

HAVE YOU READ?:  Reps consider bill to scrap NSCDC

Makinde stated that as a result, the yet-to-mentioned bank and its officials will be appropriately sanctioned following findings that they mismanaged the new naira notes they were given.