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New naira notes: Nigerians return over N140bn old notes to banks

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The Central Bank Of Nigeria has recorded significant success in redesigning old naira notes. Data released by the apex bank on Monday showed that N140 billion naira in old notes were returned to commercial banks.

ALSO READ: CBN reveals only way to get new naira notes

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The apex bank has set January 31, 2023, as the deadline for Nigerians to return old notes in their possession to banks.

ALSO READ: CBN bows to pressure, reviews cash withdrawal policy

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It also directed banks to stop issuing new naira notes over the counter. This directive was contained in a memo sent to staff by an unnamed Tier-1 bank’s Group Head, Retail Operation, titled ‘Urgent update on currency redesign.’

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