Deposit limit pegged at N500,000 as CBN directs banks to collect old N500, N1,000...
It, however, pegged the maximum amount the banks can collect at N500,000 daily per deposit.
Buhari: Old N200 notes remain legal tender till April 10
The Central Bank of Nigeria (CBN) had given a deadline of January 31 for the use of old naira notes — but it extended it to February 10.
FULL SPEECH: Read Buhari’s address to Nigerians on Naira swap
In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.
Godwin Emefiele: February 10 deadline on old Naira notes stands
The clarification is coming on the heels of confusion over the supreme court order which extended the deadline to February 15, pending the hearing by the court.
Pay new Naira notes over the counter, CBN orders banks
The apex bank on Wednesday also said it would, in conjunction with the Nigerian Police and other agencies, prosecute sellers and abusers of naira.
Emefiele: Old Naira notes redeemable only at CBN after February 10
Also, the CBN governor assured Nigerians that nobody would lose their legitimately earned money due to the naira redesign project, saying the exercise was in the overall interest of Nigerians and the economy.
Emefiele: Banks will continue to accept old Naira notes after deadline
He said the CBN will also accept the old naira from banks after the February 10 deadline.
Banks complicit as SSS arrests currency traders selling new naira notes
It did not, however, say if those ‘intercepted’ and their bank collaborators would be prosecuted.
CBN extends deadline for use of old naira notes
The new deadline is now 10 February instead of the former 31 January deadline, he said.