CBN Recovers N65bn Wrong Deductions, Charges From Customers Account By Commercial Banks

By Josephine Ella-Ejeh

The Central Bank of Nigeria(CBN) has recovered N65 billion wrong deductions and charges made from customers accounts by commercial banks.

Acting Director, Corporate Communication of the CBN, Mr Isaac Okorafor, who made this known in Asaba, Delta State reaffirmed the resolve of the apex bank to arrest and prosecute those hawking Naira notes.

Speaking during a programme with the theme: Promoting Financial Stability and Economic Development, in Asaba, Delta State, he said the bank was determined to discourage people from hawking the Naira, stressing,N it was an abuse and a criminal offence to sell the Naira on the streets.

“The CBN is very committed to making sure that people do not hawk the Naira.
Hawking and selling the Naira on the streets is a criminal offence and punishable under the CBN Act of 2007,” Okorafor said.

He said the bank's staff have been to shun such practice, saying, anyone caught would be sanctioned appropriately.

“We have made it clear that any of our staff caught in that practice, will be dismissed and we have also made it clear to banks that any bank personnel that was caught doing that will be severely punished,” said the Acting Director, Corporate Communication .

He said as a regulator, the Central Bank has collaborated at different times with the Nigeria Police whose duty it is to enforce the law. prohibiting sales r hawking of the Naira.

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