Naira Redesign: CBN Directs Banks To Open Saturdays
The Central Bank of Nigeria has instructed commercial banks in the country to work on Saturdays till January 31, 2023, to enable customers return existing naira notes.
Speaking at the CBN fair in Ilorin, Kwara State capital, on Thursday, the CBN Director, Corporate Communications Department, Osita Nwasinobi, said that the new and existing notes shall remain legal tender until January 31, 2023, when the existing notes shall cease to be legal tender.
The CBN fair has as its theme, “Promoting financial stability and economic development.”
Represented by acting director, Corporate Communications, CBN, Akpama Uket, the director said that
“They have also been instructed to receive the existing banknotes beyond the threshold stipulated by the Cashless Policy without charges to customers.
“Consequently, you must return all the current N200, N500, and N1,000
banknotes to your bank before the expiration of the deadline,” he said.