The Central Bank of Nigeria, among other things, has organized an information fair for citizens of Osun State about the introduction of new naira notes.InformationGuideNigeria
During the sensitization campaign, the Apex Bank advised residents to return current naira notes before the January 31, 2023 deadline.NYSC Portal
Osita Nwanisobi, the bank’s Director of Corporate Communications, stated during the occasion in Osogbo that the naira remained the country’s pride and must be treated with dignity.
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Nwanisobi, who was represented by the CBN’s Acting Director, Corporate Communications, Akpama Uket, said, “As you all may be aware, the Central Bank of Nigeria, riding on international best practice and Section 2 (b) of the CBN Act 2007, which stipulates currency management as one of its key functions, has announced the plan to redesign, produce, release, and circulate the new series of three banknotes, out of the existing eight banknotes, comprising N200, N500, and N1,000 denominations,
“The new and existing currencies shall remain legal tender and circulate together until January 31, 2023, when the existing currencies shall cease to be legal tender in Nigeria.
“While Deposit Money Banks have been directed to immediately start returning the existing currencies to the CBN, they have also been instructed to receive the existing banknotes beyond the threshold stipulated by the cashless Policy without charges to customers.”JAMB Portal
“The new and existing currencies shall remain legal tender and circulate together until January 31, 2023, when the existing currencies shall cease to be legal tender in Nigeria.
“While Deposit Money Banks have been directed to immediately start returning the existing currencies to the CBN, they have also been instructed to receive the existing banknotes beyond the threshold stipulated by the cashless Policy without charges to customers.”
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