Old naira notes

The Central Bank of Nigeria, CBN, has confirmed the evacuation of banknotes from its vaults to commercial banks across the country.

He said that the CBN Governor, Godwin Emefiele would personally monitor compliance of the commercial banks to the directive. Mr AbdulMumin said that the CBN also directed all commercial banks to open for operation on Saturdays and Sundays to meet their customers’ demand. The Central Bank of Nigeria, CBN, has confirmed the evacuation of banknotes from its vaults to commercial banks across the country.

The instructions come just a few days after the Nigerian Labour Congress threatened to picket apex bank locations over the persistent cash shortage.

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The CBN had earlier instructed commercial banks to immediately collect the old naira notes, deposited at the apex bank, promising that.

At GTBank, it was observed that it was dispensing old notes via ATMs and on the counter. It’s what the bank has in its vault that we are still managing. They were only attending to Zenith bank customers inside the banking hall because the ATM was not working. “I didn’t wait for long because there were two people issuing the cash, which made the process swift. “I have gone to Lotus Bank, several First Bank branches in Ilorin among others, but I couldn’t get a kobo, whether old or new notes, as the banks said they got nothing from CBN. Likewise Stanbic IBTC and Access Bank at Ogba.

The apex bank noted that this is part of the coordinated efforts to ease the circulation of naira notes of various denominations nationwide. The CBN also ...

He added that the governor of the CBN, Godwin Emefiele, would personally lead teams to monitor the level of compliance by the banks in various locations across the country. He stated that a substantial amount of money, in various denominations, has been sent to commercial banks across the country for onward circulation to their The apex bank noted that this is part of the coordinated efforts to ease the circulation of naira notes of various denominations nationwide.

THE Central Bank of Nigeria (CBN) has announced the release of old N1,000, N500, and N200 notes in its custody to Deposit Money Banks to ease the current ...

According to him, the Apex Bank has concluded plans to disburse old notes to Deposit Money Banks across the country starting from Thursday, March 23, 2023, adding that the development would end the Naira scarcity currently being experienced in the country. This comes on the heels of the Nigeria Labour Congress (NLC) planned nationwide strike and protests in CBN offices following the hardship created by the bank’s naira redesign policy. THE Central Bank of Nigeria (CBN) has announced the release of old N1,000, N500, and N200 notes in its custody to Deposit Money Banks to ease the current cash scarcity being experienced in the country.

Relief may soon come the way of Nigerians as the Central Bank of Nigeria (CBN) on Friday, confirmed the evacuation of banknotes from its vaults to ...

Godwin Emefiele, would personally lead teams to monitor the level of compliance by the banks in various locations across the country. Isa AbdulMumin, disclosed this in Abuja, stating that a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers. The CBN has also directed all commercial banks to open for operation on Saturdays and Sundays.

Relief may soon come the way of Nigerians as the Central Bank of Nigeria (CBN) on Friday, confirmed the evacuation of banknotes from its vaults to ...

Godwin Emefiele, would personally lead teams to monitor the level of compliance by the banks in various locations across the country. Isa AbdulMumin, disclosed this in Abuja, stating that a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers. The CBN has also directed all commercial banks to open for operation on Saturdays and Sundays.