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No Extension Of Date For Depositing Old Naira Notes – CBN Insists



No Extension Of Date For Depositing Old Naira Notes – CBN Insists

The Central Bank of Nigeria (CBN) has taken its enlightenment campaign to Taraba State, urging those still in possession of old Naira notes to deposit them in banks as soon as possible.

The CBN director of Financial System and Strategy, Malam Ibrahim Hassan, stressed that the deadline for the deposition of the notes will not be extended and that there is no limit to the amount of money to be deposited by individuals.

He further noted that no charges are attached to the deposition process. Hassan emphasized that the decision to redesign the notes was not targeted at any group of individuals and that it was due for redesign as the global standard for redesigning is five to eight years.

Malam Ahmed Mustapha of the currency unit of the CBN also assured the people that the new notes meet all the required standards and should be accepted for transactions by all.

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