New naira notes

The Senate has called on the Central Bank of Nigeria (CBN) to immediately extend the withdrawal date of old currency notes from January 31, 2023, to June.

He added, “the withdrawal of old [naira] notes from circulation if not extended beyond January 31, many Nigerians will be thrown into hardship and to avoid the repeat of 1984 experience withdrawal of old [naira] notes.” The Senate has called on the Central Bank of Nigeria (CBN) to immediately extend the withdrawal date of old currency notes from January 31, 2023, to June 31, 2023. According to Ndume: “It’s expected that many Nigerian businesses will start to get rid of the old notes as soon as banks start paying redesigned notes to customers.”

It's expected that many Nigerian businesses will start to get rid of the old notes as soon as banks start paying redesigned notes to customers.

According to Ndume: “It’s expected that many Nigerian businesses will start to get rid of the old notes as soon as banks start paying redesigned notes to customers.” “It’s expected that many Nigerian businesses will start to get rid of the old notes as soon as banks start paying redesigned notes to customers.” He added, “the withdrawal of old [naira] notes from circulation if not extended beyond January 31, many Nigerians will be thrown into hardship and to avoid the repeat of 1984 experience withdrawal of old [naira] notes.”

The senate, on Wednesday, asked the Central Bank of Nigeria (CBN) to extend the deadline for the withdrawal of old naira notes from circulation from January ...

I support the motion that this withdrawal date is extended to June 30, 2023.” “The old notes are expected to be in circulation along the new ones until January 31 when the old ones are expected to be phased out. Senate to CBN: Extend deadline for withdrawal of old naira notes to June 2023

Following the redesigning of the N200, N500 and N1,000 banknotes, the Senate in a unanimous resolution Wednesday urged the Central Bank of Nigeria (CBN) to ...

“Observes that access to the new notes may be compounded by the recent circular by the CBN, which limit the amount of cash individuals and corporate entities could withdraw within a certain period of time. “Aware also that the old notes are expected to be in circulation alongside the new ones until January 31, 2023, when the old notes are expected to be phased out, it is expected that many Nigerian businesses would start to reject the old notes as soon as the banks start paying out the redesigned notes to customers. Ndume who noted that the timing of the policy was wrong, said since the beginning of the implementation of the cash withdrawal limits, the new notes are not in circulation even in cities not to talk of the rural communities.

WITH barely a month for the old naira notes of N200, N500 and N1000 to cease as legal tender, many point-of-sale (PoS) operators are worried that the newly ...

This is almost a month to the expiration of the old currency, and the money circulates poorly. “I go to the market everyday, and the old notes remain mostly in circulation. The publication cited lack of banking operations in many local government areas and wards across the country. “I get the new notes from my customers more than I do from the PoS and even banks. I went to Access Bank and applied to get N2 milliom worth of the new notes. A commercial motorcycle rider in Enugu State, Emeka Onyegbule, told The ICIR that most of his passengers had been rejecting the new notes, describing them as counterfeits.

Investigation shows that only one out of three or four Automated Teller Machines (ATMs) of most banks are dispensing cash. Some customers queued endlessly at ...

“In my personal opinion, the new naira is not enough. That kind of pressure could lead to not having enough cash in the bank,” Ogubunka said. I am in front of GTBank to withdraw from the ATM but there is no money.