The Central Bank of Nigeria (CBN) says it has designated
commercial banks to assist in the collection of the old N500 and N1,000 notes
from members of the public.
Commercial banks are only allowed to accept a maximum
deposit N500,000 from each customer, CBN said.
TheCable reports that Osita Nwanisobi, director of the apex
bank’s corporate communications department, confirmed the development to them on
Friday.
“It’s just for amounts N500,000 and below,” he said.
With the development, banks are only acting as CBN
designated agents in redeeming the old notes — N500 and N1,000 — which have
“since ceased to be legal tender”.
Customers can only deposit the maximum sum of N500,000 and
this will be done not more than once by that customer. Any deposit above the
stipulated maximum amount must be made at the CBN.
In addition, any person who attempts to deposit more than
once will be denied that opportunity after the first and only deposit.
The CBN had on Wednesday opened a portal on its website to
enable Nigerians who could not take their old notes to commercial banks within
the stipulated deadline to redeem (or deposit) them by completing an online
form on the platform.
TheCable quoting a source from the United Bank for Africa (UBA) also said that the apex bank ordered the banks to commence the acceptance of the deposit of the old N1, 000 and N500 notes from customers upon the presentation of the completed printed copies of the form on the CBN portal.
The source also said such customers would be given immediate
credit.
“The maximum that we can receive from a customer between now
and 10th of April is a maximum of N500,000 and the customer can only deposit
once within this period,” the source said.
“Our branches will be
opened on Saturdays to accept such deposits and also pay customers (subject to
availability of cash).”
Banks like UBA and First bank had already sent mails to their customers confirming the news
We are not taking our old naira note ( #500,#1000) to any bank. CBN should circulate enough new naira note
ReplyDeleteConfused nation
ReplyDeleteCollecting is not our problem, the fact still remains that if banks refuses to be giving us our money we will not rest
ReplyDeleteLet Buari address is and say go ahead first because am tired of this different information
ReplyDeleteCBN have spoken..... Waiting for the president to say his own....
ReplyDeleteFunny country
ReplyDeleteChaiiii My DNA is not here ooo
Confused set of leaders
ReplyDeleteMany banks are not still collecting
ReplyDeleteWe are not taking our old naira note ( #500,#1000) to any bank. CBN should circulate enough new naira note
ReplyDeleteIn Benue here, in otukpo LG no one is accepting the old 500 &1,000 and the new naira notes is no where to be found, even the banks. this is just a distraction for we youth.oh God come to our aid.
ReplyDeleteCBN is tired... confused entity
ReplyDelete