Cbn latest news on old naira notes
Here are the latest news updates on the old Naira notes from the Central Bank of Nigeria (CBN):
Latest Update (March 3, 2023)
The CBN has announced that the old N200, N500, and N1,000 notes will no longer be accepted as legal tender from February 17, 2023. This means that the old notes are no longer valid for transactions and should be deposited into banks or exchanged for new notes.
Previous Updates
- January 31, 2023: The CBN extended the deadline for the exchange of old Naira notes to February 17, 2023, to give more time for Nigerians to deposit their old notes into banks.
- January 26, 2023: The CBN announced that it would no longer accept old N200, N500, and N1,000 notes as legal tender from January 31, 2023.
- January 15, 2023: The CBN announced that it would extend the deadline for the exchange of old Naira notes to January 31, 2023, to give more time for Nigerians to deposit their old notes into banks.
- December 15, 2022: The CBN announced that it would redesign the N200, N500, and N1,000 notes to combat counterfeiting and improve the country's economy.
Key Points to Note
- The old N200, N500, and N1,000 notes are no longer valid for transactions and should be deposited into banks or exchanged for new notes.
- The CBN has set up a special window for the exchange of old notes at commercial banks, microfinance banks, and other financial institutions.
- Nigerians can also exchange their old notes at designated centers, including the CBN branches, commercial banks, and other authorized agents.
- The CBN has warned that anyone found hoarding or refusing to accept the new notes may face penalties, including fines and imprisonment.
Sources
- Central Bank of Nigeria (CBN) official website
- Nigerian News outlets, including Vanguard, Punch, and ThisDay
Please note that the information provided is subject to change and may not be up-to-date. It is always best to check with the CBN or other reliable sources for the latest information on the old Naira notes.