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CBN TO INTRODUCE LOWER DENOMINATIONS IN ATM

The Central Bank of Nigeria (CBN) is planning on introducing lower denomination of N200 and N100 on automated teller machines (ATMs) nationwide, the Daily Independent reports.

“We are working towards having the mix of lower and higher denominations and we believe that this will be acceptable by
Nigerians and will further enhance the use of ATMs and promote cashless policy further into the rural areas and also
drive the policy of financial inclusion”, Head, Payment System Policy and Oversight Division of Banking and Payments Department of the CBN, Mr Musa Iteopa-Jimoh, said.

SOURCE: Daily Independent

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