Financial Institution, Polaris Bank has written to customers to help them get a better understanding of the issues at stake as the Central Bank begins the withdrawal of mutilated notes in circulation.
The management of Polaris Bank wrote a personalized letter to customers telling them the deadline for the deposit of such notes – Wednesday, August 28, 2019- and providing education on what falls under ‘’Mutilated Notes”.
The bank with Tokunbo Abiru as Chief Executive Officer and Managing Director explained a banknote falls under the category of mutilated when
.Torn parts of the bank notes are joined together
.Not more than half of the original size of the banknote is missing with complete serial numbers showing same details on the bottom left corner and top right corner of the banknote.
.It is partially or permanently damaged by fire, flood or soaked, dyed, torn or destroyed by natural disaster to an extent it is weak and will make further handling difficult.
The checks made by societynow.ng revealed that Polaris Bank appears to have taken the lead in this direction.
Customers of a couple of other banks spoken to said they were yet to get such added value from their “banker” at press time.
