Old Naira Notes will Cease to Be Legal Tender Jan 31, CBN Insists * Warns banks against dispensing old notes Francis Sardauna in Katsina The Central Bank of Nigeria (CBN) has said it will not extend the January 31
The Central Bank of Nigeria has said it will not extend the January 31 deadline for N1,000, N500 and N200 notes to cease being legal tender despite pressure from Nigerians on the need for an extension of the deadline.
The old notes are expected to be out of circulation by January 31 yet there is scarcity of the new notes as banks keep dispensing old notes to their customers across the country. He said: “The January 31 deadline is fast approaching and the CBN has no plan to extend the deadline. So, all those who have the old notes should please take them to their banks so that they will be exchanged or credited to their accounts.
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