Sterling Bank says all Naira denominations now available at ATMs, explains situation in Ado-Ekiti

Admin l Tuesday, February 7, 2023

 

LAGOS, Nigeria – Sterling Bank has assured Nigerians that all denominations of the Naira notes are now available and can be withdrawn from all their branches over the counter and from their Automated Teller Machines, ATMs.

The bank explained that the affected Sterling Bank branch in Ado-Ekiti  was not hoarding any fund, contrary to reports, assuring that the bank remains at the fore front of ensuring that the Naira swap policy is successful.

“We hereby confidently assure the public that the branch was not hoarding  any funds and that Sterling remains at the forefront of ensuring that this  exercise is a resounding success”, the bank said in a statement by Ademola Adesina of the Public Relations and News Management Department.

With regards to the incident at Ado-Ekiti, the bank explained that the Naira notes referenced were received prior to the re-configuration  of the branch’s Automated Teller Machines (ATMs) to dispense the 200 Naira denomination.

“On January 23, 2023, a regulatory official visited our branch in Ado -Ekiti and the vault contained N 6,000,000 in N 200 denominations. During the visit, the official observed that we had ran out of N1,000  and N500 notes on that day and were unable to load the N200 as the  ATMs had not yet been configured to dispense N200 notes.

“At the time of the visit, the subsisting instruction was that the newly  designed notes were not to be dispensed over the counter. All our ATMs have been dispensing the available quantities of the  N1000 and N500 denominations of the newly designed currency as  received since the commencement of the policy. We have also successfully reconfigured our ATMs nationwide to dispense N200 notes”, he said.