CBN issues banknotes fitness guidelines to banks

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The Central Bank of Nigeria on Wednesday issued banknotes fitness guidelines to commercial and microfinance banks to sustain public confidence in the nation’s currency.

This is contained in a circular issued by the CBN Deputy Governor, Operations, Mrs Folashodun Shonubi and Director, Currency Operation, Mrs Priscilla Eleje in Lagos.

The bank said that cash handlers must ensure the neatness and consistency in the quality of notes in circulation.

The bank said the guidelines, which was done in collaboration with key industry stakeholders, entailed the production and circulation of quality banknotes in line with defined standards.

According to the bank, the guidelines also entailed standardised quality criteria for sorting of banknotes before putting them into circulation.