The Central Bank of Nigeria (CBN) has advised Nigerians to start rejecting old naira notes from banks.
The apex bank further reminded bank customers that the old notes ceased to be a legal currency on January 31 and there were no plans to extend the deadline. Rekiyat Yusuf, Deputy Director, Currency Operations, made the announcement in Lokoja, Kogi State, on Thursday, during a presentation to market participants regarding the new naira notes.
She stated that any bank found issuing outdated notes to customers will face appropriate sanctions in the future.
The CBN, therefore, directed customers to report any bank still dispensing old notes either over the counter or through the Automated Teller Machine (ATM) to the apex bank.
Yusuf further urged traders to avail themselves of the window provided by the January 31st deadline by visiting banks to exchange the old notes with the new ones.
