CBN imposes N150 million fine on banks for illicit mint naira transactions The Central Bank of Nigeria (CBN) has taken a firm stance against the illegal flow of freshly minted naira notes to currency hawkers and other unscrupulous agents by imposing a penalty of N150 million per branch on erring Deposit Money Banks (DMBs). This comes as part of measures to curb the commodification of Naira notes, which the CBN says undermines efficient cash distribution to Nigerians. In a circular issued on December 13, 2024, and signed by the Acting Director...