Business
BREAKING: CBN Orders Banks To Collect Old N500, N1,000 Notes
BREAKING: CBN Orders Banks To Collect Old N500, N1,000 Notes
The Central Bank of Nigeria has directed banks to begin collecting old N500 and N1,000 notes from the public as soon as possible.
The maximum amount that banks can collect, however, is N500,000.
According to the CBN, the old currencies were no longer legal tender.
Read Also Unrest In Port Harcourt Over Naira Scarcity
According to a bank source, the CBN ordered the banks to collect the funds instead of going to the CBN office due to difficulties in gaining access to the bank.
A CBN official said, “Go to your bank but fill out the form before you go. Go with the reference code you generate. With your code, banks will collect it from you. But if it is more than 500,000, you will go to the CBN and deposit it.”
For More News Join Our WhatsApp Group With This Link Below
-
Latest News19 hours agoTinubu Announces New Appointment, Sends Nominee To Senate For Confirmation
-
Latest News1 week agoPresidency Moves Against VDM Over Fake Tinubu Audio Allegation
-
Politics1 week agoWike’s PDP Camp Unveils 2027 Presidential Candidate
-
Latest News4 days agoShake-Up At CBN: Deputy Governors Redeployed, Full List Released
-
Politics3 days agoJune 12: Tinubu Set For Nationwide Broadcast, NASS Address
-
Politics2 weeks agoBREAKING: Tinubu Sweeps Zulum’s Ward With 2,175 Votes In APC Primary
-
Politics2 weeks agoAPC Drops Full List Of Lagos Assembly, Reps Candidates For 2027 Elections
-
Education1 week agoNELFUND Refutes Claims Of Suspending Students’ Upkeep Allowance
-
Politics14 hours agoWike Clears Air On Chinda, Says INEC Candidate List Drops In July
-
Politics7 days agoGanduje Fires At Kwankwaso: “He Was Once My Political Boy
-
Latest News1 week agoJibrin Breaks Silence On Dumping Kwankwaso For Tinubu: “It Wasn’t Betrayal
-
Latest News2 weeks agoCourt Rules On Disqualification Of Senator Kingibe From ADC