The Central Bank of Nigeria has instructed commercial banks in the country to open on Saturdays till January 31, 2023, to enable customers to return existing naira notes.
The CBN had announced plans to redesign the N200, N500, and N1,000 banknotes, and release the new notes by December 15, 2022.
Speaking at the CBN fair in Ilorin, Kwara State capital, on Thursday, the CBN Director, Corporate Communications Department, Osita Nwasinobi, said that the new and existing notes shall remain legal tender until January 31, 2023, when the existing notes shall cease to be legal tender.
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.
Meanwhile, the CBN warned Nigerians of the consequences of mishandling naira notes.
0
0
