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Business News of Thursday, 19 January 2023


CBN officials storm Akure over old naira notes

CBN Governor, Godwin Emefiele CBN Governor, Godwin Emefiele

Officials of the Central Bank of Nigeria(CBN) are set to storm Akure, the Ondo State capital to stop further issuance of old naira notes of N200, N500 and N1000 denominations by banks.

The officials are to search Automated Teller Machines (ATM) in the State to ascertain if commercial banks were still loading in the old notes.

Acting Controller of CBN, Akure branch, Samuel Ademola Giwa, who made this known in a chat with journalists in Akure said it was part of the move to ensure the newly redesigned notes were in circulation in Ondo State.

Giwa appealed to residents in the state to continue to accept the old naira notes of N200, N500 and N1000 until January 31 when the notes would stopped being a legal tender.

His words: “We are here to sensitise the public on the new redesigned bank notes.

“We want the public to familiarise themselves with the new notes.
Old notes will remain legal tender till January 31, 2023. No limit to how much can be deposited. Accept the new notes and use it.

“We advise members of the public to ensure that they deposit cash holdings in these denominations at their commercial banks. The CBN has susended bank charges. Accept the new notes, use it and respect it as our national symbol.”