The Central Bank of Nigeria, CBN has said that customers of banks would not be charged any fee for returning mutilated naira notes after the September 2nd deadline.
The CBN Director, Corporate Communications Department, Isaac Okorafor explained that the June to September window given by the CBN, was for banks to bring their mutilated naira notes to the Apex Bank without sorting, adding that this would be sorted out by the Bank for free.
He noted that at the expiry of the deadline, any bank bringing mutilated naira notes to the CBN without sorting would pay a fee.
Okorafor said the fee to be paid by banks to the CBN for sorting of naira notes was part of their operating cost.
He called on customers of banks to continue to return their mutilated naira notes to the banks even after the deadline, as it was a continuous process.
