Banks reject old notes in Ondo

Commercial banks in Akure, the Ondo State capital, have begun rejection of the old notes of N200, N500 and N1000 notes.

Many customers who went to the banks to deposit were disappointed when the bank officials refused to collect the old notes.

At the Jais bank, an official advised customers to take the old notes to the Central Bank of Nigeria(CBN).

An official of an old generation bank, who spoke on anonymity, said they were acting on instruction from the Central Bank of Nigeria.

Other banks visited were the UBA, FCMB, First Bank and Zenith bank.

Some traders in Akure also refused to collect the old notes.

They claimed that banks refused to collect old notes in their possession.