The Central Bank of Nigeria, CBN, has bowed to pressure and ordered Deposit Money Banks to accept N500 and N1,000 old naira notes from customers. In view of that every Nigerian that has N500 and N1000 old naira notes can now take it to banks. Many Nigerians early this morning …
Read More »More Confusion as CBN Declares Old Naira Notes No More Legal Tender
The Central Bank of Nigeria (CBN) has declared that the old N200, N500 and N1000 have ceased being legal tender since February 10, 2023. CBN had originally fixed January 31 as deadline for old notes to be in circulation but extended it in response to pressure from Nigerians. However, before …
Read More »Emefiele Makes U-Turn Says Banks Will Accept Old Naira Notes After February Deadline
Commercial banks in Nigeria will still accept old naira notes from customers after the February 10 deadline, the governor of the Central Bank of Nigeria, Godwin Emefiele, told the House of Representatives on Tuesday. Emefiele stated this while appearing before the ad hoc committee set up by the House on …
Read More »CBN Allocates N30 Million New Naira Notes Daily to Bauchi Banks
The Central Bank of Nigeria, Bauchi State, says it allocates N30 million new naira notes daily to each branch of banks in the state to increase access of customers to the new notes. An official of the apex bank, Mr Abdulkadir Jibrin, said this while monitoring banks in Bauchi on …
Read More »Naira Exchange Deadline: How Unbanked Nigerians Could Lose Out
Nigeria’s most vulnerable groups could be adversely affected by the decision to require the exchange of old Naira notes for new notes through an existing bank account, a multifaceted advocacy programme, The Inclusion for all Initiative has suggested. The Initiative made this known in its new data insights on its …
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