The Central Bank of Nigeria (CBN) has declared that there is no deadline set on the circulation of old Naira notes in the country, reports ITREALMS.
A press statement from CBN, endorsed by the Acting Director, Corporate Communications, Sidi Ali, Hakama (Mrs.) informed ITREALMS that their attention has been drawn to discussions at different fora which suggested that the old series of the N200, N500, and N1,000 banknotes shall cease to be legal tender on December 31, 2024.
The apex banking institution in the country, the Central Bank of Nigeria (CBN) has reaffirmed that all its bank notes remain legal tender as issued, reports ITREALMS.
Director, Corporate Communications, CBN, Dr. Isa AbdulMumin, in a press statement available to ITREALMS, said that their attention have again been drawn to reports of a scarcity of cash across some major cities in the country despite assurances of sufficient cash stocks in all locations across the country.
As part of a coordinated effort to ease the circulation of banknotes of various denominations, the Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country, reports ITREALMS.
The CBN has also directed all commercial banks to open for operation on Saturdays and Sundays.
