"No Extension Of Date For Depositing Old Naira Notes" – CBN Insists

Date: 21-01-2023 9:24 pm (1 year ago) | Author: Mister Jay Wonder
- at 21-01-2023 09:24 PM (1 year ago)
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The Central Bank of Nigeria, CBN, has taken its enlightenment campaign to Taraba State.

Business activities were temporarily slowed down at the Jalingo main market on Saturday as the CBN took its enlightenment campaign to the traders to enlighten the people on the importance of depositing their old Naira notes in banks on or before January 31, 2023.

Led by the Director of Financial System and Strategy of the bank, Malam Ibrahim Hassan, it urged those who are still in possession of the notes to, as a matter of urgency, deposit them in banks as there would be no extension of the January deadline.

Stressing that the deadline for the deposition of the notes will not be extended, Hassan told the business community, officials of commercial banks and Points Of Sale (POS) operators, who were present in the market, that there was no limit to the amount of money to be deposited by individuals, adding that no charges are attached.

He said the decision to redesign the notes was not targeted at any group of individuals.

“Data has shown a large volume of old banknotes stored at homes by the public has led to a shortage of clean and fit notes,” he said, adding that the new notes will check the spread of counterfeit notes and strengthen the economy as well as reduce expenditure on cash management.

He also said the naira was due for redesign as the global standard for redesigning is five to eight years.

Aligning his weight to that of Hassan, Malam Ahmed Mustapha of the currency unit of the CBN told the people that the new notes met all the required standards and should be accepted for transactions by all.


Posted: at 21-01-2023 09:24 PM (1 year ago) | Addicted Hero
- fineboy77 at 21-01-2023 09:43 PM (1 year ago)
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Frustrate them, then after, you will also go to jail. Nigeria wins !!

Posted: at 21-01-2023 09:43 PM (1 year ago) | Addicted Hero
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- gogoman at 21-01-2023 10:46 PM (1 year ago)
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i thought we done on this none issue........  Roll Eyes Roll Eyes Roll Eyes
Posted: at 21-01-2023 10:46 PM (1 year ago) | Grande Master
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- OmoNobaUku at 21-01-2023 11:15 PM (1 year ago)
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Good on you, CBN. We'll soon change the flag of the country too.
Posted: at 21-01-2023 11:15 PM (1 year ago) | Gistmaniac
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- kp45 at 22-01-2023 07:49 AM (1 year ago)
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Foolish leaders.
Posted: at 22-01-2023 07:49 AM (1 year ago) | Addicted Hero
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