Finance

Banks Dispense Old Naira Notes As Acceptability Grows

Banks Dispense Old Naira Notes As Acceptability Grows

Following the directive by the Central Bank of Nigeria (CBN) on Monday that the old N500 and N1,000 banknotes remain legal tender and would be in circulation concurrently with the new notes till December 31, 2023, commercial banks have begun dispensing the old notes through their Automated Teller Machines (ATMs).

Read:  Naira exchange rates April 2022

This is as traders and motorists have also started accepting the old notes. Our Correspondent findings around banks in Lagos showed that while the long queues at the banking halls still persist, many banks were dispensing the old N500 and N1,000 through their ATMs as well as within the banking halls.

Read:  Federal Govt  raises N200bn through bonds

A customer of a Tier 2 bank, who spoke with Our Correspondent, said she was unable to get cash earlier on Monday but had been able to get some old notes at the ATM on Tuesday.

Read:  Nigeria Info rewards loyal listeners

“I would have not taken it but with what the CBN said Monday, I have confidence that I won’t have difficulty spending it. Although some traders were already collecting it before now, I know that.

Leadership

Related posts

Coca-cola unveils new global brand platform

NigGal

FY 2021: Unity Bank assets hit N538.87bn

NigGal

Osinbajo to headline NGX capital market conference

NigGal

FCMB posts N26.5bn profit before tax in nine months

NigGal

Cash limits: PoS operators give CBN ultimatum

NigGal

ESH launches first all-natural foaming hand sanitizer

NigGal

Leave a Comment