Finally, CBN bows to pressure, directs banks to take N500, N1000 notes
Twenty four hours after President Muhammadu Buhari ordered the Central Bank of Nigeria (CBN) to return old N200 note into circulation making it a legal tender from February 10, 2023 to April 10, 2023, the apex bank has reportedly ordered Deposit Money Banks to collect old N500 and N1,000 notes from customers, according to a top official of the apex bank.
READ ALSO: BREAKING: Buhari orders return of old N200 note into circulation
This comes after the initial announcement that customers should proceed to various offices of the apex bank across the country to deposit the old notes – N500 and N1,000.
It is believed that the new directive is geared towards easing the difficulties encountered by Nigerians who are yet to deposit the old notes at the offices of the apex bank.
A top bank official and branch head told Vanguard, that the branch will collect old notes from customers tomorrow Saturday as the branch did not open to customers today due to fear of attack.
Recall that President Muhammadu Buhari, had directed that the old N500 and N1,000 notes are no longer legal tenders but those having the notes should take the notes to the CBN so as not to lose their money.
Neptune Prime reports that the CBN opened a portal for people with the old N500 and N1,000 notes to register how much they want to deposit and to get a reference code to confirm there registration. The reference code will be used to deposit the old notes at any of the CBN offices across the country.
More details to follow…
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