In a move to meet the January 31 deadline for the old N1,000, N500 and N200 notes to cease being legal tender, the Central Bank of Nigeria will on Monday meet with mobile money/Point of Sales agents to plan for the newly launched cash swap programme targeted at fast-tracking the withdrawal of the old notes from circulation.
However, he noted that the programme would be targeted mainly at agents in rural areas.
A popular clothier, Ruff ‘n’ Tumble, informed its customers via text messages that it would stop accepting the old naira notes two days before the deadline. Also, Shoprite issued notices to its customers that it would adhere strictly with the CBN deadline of January 31, 2023. The apex bank reiterated that there was no limit to how much of the old notes a customer could deposit till January 31, 2023, saying bank charges had been suspended on such deposits.
“We believe that this exercise will help in increasing financial inclusion, moving towards a more cashless economy, and ensuring greater formalisation of the Nigerian economy. She encouraged the trades not to reject the new notes and take the old ones to the bank before the deadline. She stated, “We are here for the Central Bank of Nigeria’s sensitisation on the redesigned notes. As we speak, some of our officials are already going round the local government areas.
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