Old naira notes no longer legal tender, CBN warns Nigerians, banks
The Central Bank of Nigeria has insisted old N200, N500 and N1,000 notes are no longer legal tender despite a Supreme Court order barring the apex bank from implementing the February 10 expiration date for the old notes.
Haladu Idris Andaza, CBN’s branch controller in Bauchi, disclosed this to journalists on Monday.
“For the avoidance of doubt, we wish to state categorically that CBN is ready and is open to receive all of those old notes based on certain conditions and criteria. Customers are free to come to the bank and deposit which they cannot do at the commercial banks anymore because the currency has ceased to be a legal tender since the 10th of this month,” Mr Andaza said.
He further said individuals and institutions with old banknotes can deposit them with branches of the apex bank across 36 states of the country.
“The management of the CBN decided that those customers will have a sigh of relief by coming to the offices of the CBN in all the 36 states in the federation including FCT to deposit their money. The customer has to go to the CBN portal and fill a form in the portal, there will be a form there concerning this currency redesign and exchange,” Mr Andaza said.
In October, CBN governor Godwin Emefiele announced the redesign of the N200, N500 and N1,000 last October.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
Naira Abuse: EFCC advised to also go after treasury looters
“We have been spraying money during social occasions for decades, and it is part of our culture,” said a financial expert.
States
Gov Diri decries marginalisation of Bayelsans in Federal Fire Service quota
The governor alleged that Bayelsa is marginalised in several federal agencies where the quota system is used as a criterion for employment.
Politics
Aiyedatiwa praises Tinubu after emerging APC candidate for Ondo guber poll
“This is not the time to hold grudge against one another, but for all of us to come together so as to remain in power,” Mr Aiyedatiwa said.
Health
Portable Ultrasound Launch: Four million newborns die yearly in Nigeria, other nations, says Gates Foundation
“Every year, nearly 300,000 women and over four million newborns perish due to pregnancy-related complications,” the Gates Foundation said.
States
Rain wreaks havoc in Ogun
“We are appealing to the public to stay clear of every electrical pole, wire and other installation until we are able to clear everything off the road,” IBEDC said.
States
Father, son, neighbour die trying to retrieve phone from pit latrine
A 60-year-old man, Danjuma, aka Black, his son, Ibrahim, 35, and Aminu Gaye, also 35, died in a pit latrine while trying to recover a phone.
