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Reading: Breaking: CBN directs banks to accept old N500, N1,000 notes
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Breaking: CBN directs banks to accept old N500, N1,000 notes

The Central Bank of Nigeria (CBN) has directed banks to begin retrieving old N500 and N1,000 notes from consumers. The apex bank's spokesman...

Chima Joseph Ugo
Chima Joseph Ugo - Editor-in-chief February 17, 2023
Updated February 23, 2023 at 11:44 AM
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Breaking: CBN directs banks to accept old N500, N1,000 notes
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Breaking: CBN directs banks to accept old N500, N1,000 notes
The Central Bank of Nigeria (CBN) has directed banks to begin retrieving old N500 and N1,000 notes from consumers.

The apex bank's spokesman, Osita Nwanisobi, revealed this on Friday, saying that deposits of more than N500,000 were not permitted.

The news comes as Nigerians are furious over the rejection of currencies that President Muhammadu Buhari proclaimed to be worthless.

Buhari requested that Nigerians bring their used N500 and N1000 currencies to the CBN in his national broadcast.

Nigerians flocked to the headquarters of the apex bank to deposit their old money.

The throng was directed to commercial banks as the bank personnel fought to keep them under control, but they were rebuffed.

Details to come...

Tags: Nigeria

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