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RE: Composed Mutilated Bank Notes - Business - Nairaland

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All Mutilated And Rejected Naira Notes In The South Are Accepted in The North / Banks Push Out Dirty, Mutilated Notes As New Naira Scarcity Persists / CBN Clean Note Policy: Mutilated Naira Notes May Be Useless After September 2 (2) (3) (4)

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RE: Composed Mutilated Bank Notes by chigoziri2403(m): 8:54am On Apr 04, 2022
Sequel to the directive from CBN Concerning composed notes, the emphasis should be on COMPOSED

Composed banknotes are mutilated currency notes comprising several parts of different banknotes of the same denomination.

The parts of such currency notes are usually put together with the intention of receiving value.


Umar said that the existence of such banknotes in the economy falsified the true value of the currency in circulation.

He added that it could also be a channel for fraudulent activities."

I understand the empathy towards CBN all over the social media but let's try to read to understand.

Let's understand what composed notes are and it's effects
Most people now take naira notes tear it and join to triple the value.

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