Amidst the cash crunch ravaging the country, the Central Bank of Nigeria (CBN) has ordered Deposit Money Banks to collect old N500 and N1,000 notes from customers.
By implication, every Nigerian that has old N500 and N1000 notes can now take it to banks.
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According to Cable, this was confirmed by the Director, of Corporate Communications of CBN, Osita Nwanisobi, who said that it is just for the sum of N500,000 and below.
The reversal of its earlier directive that the old naira notes can only be deposited in CBN offices across the country after the expiration of the February 10 deadline, might not be unconnected with the difficulties Nigerians have faced in depositing their money in CBN offices.
The CBN maintained that the old currencies were no more legal tender
Recall many Nigerians in the wee hours of Friday stormed the CBN offices and demanded that the apex bank should collect their old notes.
