•••INSISTS N500, N1000 ARE NO LONGER LEGAL TENDER
The Central Bank of Nigeria has issued a directive to the Central Bank of Nigeria to start immediate collection of old N500 and N1000 notes from Nigerians.
However the Apex bank pegs the maximum amount the bank can collect from each customer at N500,000
The CBN insisted that the old N500 and N1000 notes have ceased to be legal tenders.
The CBN adjusted came amidst widespread demonstrations over the scarcity of the new Naira notes and the refusal of the banks to collect the old notes.
ACN official directed told a massive crowd at the Lagos Office of the CBN to go to their banks with their reference codes and deposit their money.
“Go to your bank but fill out the form before you go. Go with the reference code you generate. With your code, banks will collect it from you. But if it is more than 500,000, you will go to the CBN and deposit it,” Punch quoted an unnamed CBN official in Lagos a CBN as saying.
The Network contacted the Director of Communications of the CBN but he was yet to respond to the inquiry at the time of filing this report.
Details later