Central Bank Of Nigeria Insists On January 31 Deadline For Old Naira Notes, Sends Reminder To Nigerians

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The Central Bank of Nigeria (CBN) has sent a reminder to Nigerians insisting that January 31, 2023, remains the deadline for the old version of the redesigned Naira notes to cease from being a legal tender in the country.

The apex bank in the reminder posted on its Twitter account on Friday advised Nigerians to return all the old N200, N500 and N1,000 notes in their possession to their respective deposit banks before the deadline.

“The old series of N200, N500 and N1,000 notes will cease to be legal tender by January 31, 2023.

“A reminder to the general public that the old series of N200, N500 and N1,000 will cease to be legal tender by January 31, 2023. You are advised to return them to your bank before the deadline,” the bank said.

Recall that the apex had earlier this week directed commercial banks across the country to work 24 hours on January 31, 2023 to allow Nigerians meet up with the deadline for depositing all the old Naira notes in their possession.

The bank also assured Nigerians that no money would be removed from any amount of money deposited from any account till January 31st, but warned that any commercial bank that refused to dispense the new notes either at ATM or counter would be sanctioned.

It was gathered on how Nigerians lament the scarcity of the new naira notes as commercial banks are not issuing the new Naira notes to their customers nor are the new Naira banknotes being dispensed at ATM galleries.

A cross-section of Nigerians across the country who have been lamenting the scarcity of the new Naira notes had lambasted President Muhammadu Buhari’s administration for spending a huge amount of money on redesigning naira notes despite Nigerians' objection.

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