by the CBN. Its especially important to be careful if you are in poor light or cannot see the notes clearly. (c)To reduce the cost of replacing dirty notes. The scheme was designed to encourage banks to increase lending to the agricultural sector by providing guarantee against inherent risks. What measures has the CBN put in place to enlighten the public on the use of these coins? International airlines ticket sales remittances shall only be eligible to access the CBN FX window (smis-Retail and Wholesale)spot and forwards. If you did not find an answer to your question above, try the. Is it allowed to sell mint naira notes in the public? (b)To make them last longer in circulation and look cleaner.
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The apex bank said compliance with the new directive was compulsory. (b)On the N20 note, there is an oval-shaped, green coloured area in the lower part of the window. They ensure more accurate transactions and also because the are legal tender. How has the CBN gone about circulating these coins? A statement Saturday night by the apex banks Acting Director, Corporate Communications, Isaac Okoroafor, stated that in a bid to ensure that eligible travelers are able to access foreign currency and make liquidity available in the market, the CBN had issued the following instructions. The Banks Director in charge of Financial Markets, Dr Alvan Ikoku, in a circular, said the purpose of the window was to boost liquidity in the forex fox news fastest growing suburbs market and ensure timely execution and settlement of eligible transactions. More from Ships Ports. There is no reason why traders should not aaccept these coins because they are light, portable and convinient to carry. Are the coins for accounting purposes or for transactions? The statement warned that BDCs that fail to access the forex window at least three times weekly would have their licenses reviewed by the CBN. How many denomination of coins do we have? No society can do without coins to facilitate transactions.
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