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New Naira Note: How Bank Rejected Decomposing N20m – Presidency


President Muhammadu Buhari’s Chief spokesman, Femi Adesina has revealed how a customer visited a commercial bank to deposit N20 million which was already damaged.

Naija News reports that following the move by the Central Bank of Nigeria (CBN) to redesign some Naira notes, the presidency has revealed that the development is affecting some billionaires who may have stashed the currency in their various houses.

Adesina while speaking on the effects of the new Naira via an article on Friday stated that efforts by the bank’s staff to salvage the cash failed as it was already damaged beyond repair.

He said that the cash was already decomposing and could not be resurrected hence the need for rejection.


According to him, “Somebody went into a banking hall in Abuja some days ago, and came back to tell of a mighty stink that had pervaded the entire atmosphere in the hall.

“Whodunnit? A mysterious depositor had brought the sum of N20 million from God knows where, but the currency had become gummed together, damp, and odoriferous..

“The bank staff initially made a valiant effort to sort out the notes. With nose masks and hand gloves firmly in place, they began to count.


“But Lazarus had been dead for too long, and was already decomposing. No way to make the corpse walk. So at that point, the depositor was asked to leave the bank with his cargo, which had long gone into demurrage.”

Adesina said the unidentified customer left the bank quite disappointed. However, the smell from the decomposed cash was so bad, the banking hall had to be disinfected, and deodorized.

Praising the CBN for their descision to introduce a new naira, the aide stated that the move was already yielding results.


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