Naira Redesign: CBN Orders Banks To Open On Saturdays

by Echezona obinna
A+A-
Reset

To enable clients to return old naira notes, the Central Bank of Nigeria has ordered all commercial banks in the nation to open on Saturdays through January 31, 2023.

The CBN has previously stated that the new N200, N500, and N1,000 banknotes would be released on December 15, 2022.

The present notes will cease to be legal tender on January 31, 2023, according to Osita Nwasinobi, director of the CBN’s corporate communications department, who was speaking at the CBN exhibition on Thursday in Ilorin, the capital of Kwara State.

The CBN fair has as its theme, “Promoting financial stability and economic development.”
Represented by acting director, Corporate Communications, CBN, Akpama Uket, the director said that
Deposit Money Banks have been directed to immediately start returning the existing currencies to the CBN.

“They have also been instructed to receive the existing banknotes beyond the threshold stipulated by the Cashless Policy without charges to customers.

Advertisement

EFCC Chair – Naira Redesign Targets Looted Funds

“Consequently, you must return all the current N200, N500, and N1,000
banknotes to your bank before the expiration of the deadline,” he said.

Meanwhile, the CBN warned Nigerians of the consequences of mishandling naira notes, saying, “Let me also reiterate the need to handle the naira with care. The naira remains a symbol of our national pride. Treat it with utmost dignity.

“Do not spray, squeeze or counterfeit the naira, as default goes with consequences.”

 

Follow us on Facebook

Post Disclaimer

The opinions, beliefs and viewpoints expressed by the author and forum participants on this website do not necessarily reflect the opinions, beliefs and viewpoints of Anaedo Online or official policies of the Anaedo Online.

Advertisement

You may also like

Advertisement