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Currency circulation has improved in major cities across Nigeria following the third day paunchy implementation of the Supreme Court docket ruling on the unprejudiced soft place of used Naira banknote.
Findings gift that banks have started simultaneous meting out of the used banknotes over-counters and via the Computerized Teller Machines, ATMs.
Furthermore the used banknotes are in point of fact wisely popular by most merchants and services services apt as banks are in point of fact accepting them.
Then again, the banks appear to have drag out of recent Naira notes as both the ATMs and the banking halls visited by Economic Confidential level to that completely used banknotes had been on hand.
Be taught Furthermore: Naira redesign implemention failure and its penalties
A workers of 1 of the banks in Lagos Island acknowledged that practically all banks, alongside side her have, have now now not received provide of the unusual banknotes since this week.
Furthermore our findings gift that the banks are quiet implementing cash withdrawal limits topic to a maximum of N10,000 per buyer per day.
However some banks at the time of seek recommendation from weren’t meting out the forex notes due to the shortcoming of cash. A security personnel at likely the most banks acknowledged the cash on hand had been exhausted earlier earlier than the seek recommendation from.
Within the period in-between, in markets visited merchants had been viewed accepting the used naira banknotes.
A businessman who had quiet the used notes from a bank ATM on Lagos Island, acknowledged he purchased petrol with the cash and it used to be popular. Motorists and merchants in the vicinity moreover popular the used forex notes.