CBN to sanction banks, FX dealers rejecting old, lower dollar bills The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) and authorised forex dealers against rejecting old and lower denominations of United States Dollar (USD) bills from customers. The directive became necessary following complaints from customers after the apex bank conducted a market intelligence survey. In a circular dated June 27, 2024, made public by the apex bank on Monday, CBN’s Acting Director, Currency Operations Department, Solaja Olayemi, said the regulator frowned at “this selective acceptance of deposit”, urging...