The Central Bank of Nigeria (CBN) frowns on Rejecting Lower U.S Dollar Denominations

Rejection of Lower Denomination of Dollar has mandated all Deposit Money Banks (DMBs) and Bureau de Change operators in the nation to accept both old series and lower denominations of United States Dollars which are legal tender for deposit in their own clients.

This became necessary following complaints from the general public about the rejection of old/lower denominations of the U.S dollar invoices by deposit money banks and other authorized forex dealers.

It further advised all forex dealers to desist from defacing/stamping U.S Dollar banknotes as such notes always fail authentication test during processing/sorting.

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