CBN Warns Against Rejection of Mutilated Currencies

Nigerians who are in the habit of rejecting mutilated polymer currencies have been warned to desist forth with as the currencies are legitimate legal tender of the country.

The branch controller, Central Bank of Nigeria, Port Harcourt Branch, Ken Effa who gave the warning in an exclusive interview with The Tide in his office in Port Harcourt Friday said it is totally wrong for any person to reject the polymer notes as central bank and commercial banks across the nation were ready to receive them.

The branch controller said the notes could only be unacceptable if the basic security indications on the notes are being affected by any such mutilation.

Bus drivers and petty business operators in Rivers State commonly reject any polymer currencies of the N5, N10.00 and N50,00 notes when they notice any slight mutilation. Though the commercial banks accepts such currencies but when they roll them back to the members of the public, they are being greeted with rejection, a situation that has led to quarrels and unnecessary arguments. Mr Effa advised holders of the mutilated polymer notes to come forward to the Port Harcourt branch of CBN for exchange as the bank is ever ready to accept them.

Commenting on the situation, Barrister Glad Amana said it is absolutely wrong to reject any Nigerian currency for the mere reason that such currency is mutilated except the security numbers are affected.

Barrister Amana who works with the Rivers State Ministry of Justice advocated for sensitization of the public by the government especially the Central Bank of Nigeria. The legal practitioner noted that there is no provision indicating prosecution of any person who rejects any of the currency because it is turn.

“There is no provision that said somebody that rejects turn or mutilated currency should be prosecuted. It boils down to sensitization of members of the public,” the lawyer said.

Chris Oluoh