naira

Banks Told To Write Down Serial Number Of New Naira Notes During Withdrawal

When new naira notes are removed, it appears that the central bank has instructed commercial banks to record the serial numbers. When consumers withdraw money, certain Nigerian commercial banks’ operations staff reported to Nairametrics that they were told to record all of the new naira notes’ serial numbers. The employees asked for anonymity out of concern for their safety. As promised by the central bank, banks began issuing the new naira notes on December 15th. According to Nairametrics’ analysis, the most common bank notes are the N1000 notes because the majority of the smaller denominations have not yet been released. Some bank employees explain that the reason they remove serial numbers is identical to the reason banks…