Federal Character
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
Federal Character
No Result
View All Result
Home News

Banks start issuing old N500 and N1,000 notes to customers.

Marian RomainebyMarian Romaine
March 7, 2023
in News
0
Banks start issuing old N500 and N1,000 notes to customers.
Share on FacebookShare on TwitterShare on Whatsapp

Yesterday, a few commercial banks started issuing old N500 and N1000 bills to the general population.

The action was taken in response to a Supreme Court decision that extended the expiration date of the banknotes to December 31, 2023.

Another event is that the Central Bank of Nigeria (CBN) said yesterday that the total repayments made under its Anchor Borrowers’ Programme (ABP) totaled N503 billion, or 52.39 percent of the total exposure.

Businesses in Abuja and other locations continued to refuse the old denominations due to the absence of a statement from President Muhammadu Buhari or the apex regarding the issuance of the old banknotes to customers.

Since the Supreme Court’s decision, the central bank has not released any more clarifications or instructions, which has led the financial community to exercise prudence concerning the old notes.

In Abuja, a few GTBank and Access Bank locations distributed obsolete banknotes. People were reportedly withdrawing the old N1000 and N500 notes from Sterling Bank and Access Bank’s ATMs at Iyana Ipaja in Lagos.

However, as almost none of the Point of Sale (POS) operators had cash on hand when the check was written, there was still a severe cash shortage throughout the Federal Capital Territory (FCT).

Experts, however, predicted that after the apex court’s ruling, cash availability and circulation would significantly improve. They also hoped that after the general election was over next week, monetary policy would be changed in a way that would increase the flow of money throughout the economy.

Tags: Anchor Borrowers' Programme - ABPBanks start issuing old N500 and N1000 notes to customersCentral Bank of Nigeria - CBN
Marian Romaine

Marian Romaine

Marian Romaine is a seasoned content writer with a passion for translating complex technological concepts into accessible and engaging content.She is dedicated to creating engaging and informative content aiming to enhance both reader engagement and search engine visibility. Her writing combines a deep understanding of the subject matter with a talent for crafting clear, concise, and informative pieces.With 3 years of industry experience, her expertise includes crafting blog posts, articles, social media content, and website copy.

Related Posts

“We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis
News

“We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis

October 25, 2025
Louvre Evacuates Jewels to Bank After Security Failure
News

Louvre Evacuates Jewels to Bank After Security Failure

October 25, 2025
A New Kind of Threat? Murder-Suicide at Ukrainian Station Raises Alarms
News

A New Kind of Threat? Murder-Suicide at Ukrainian Station Raises Alarms

October 24, 2025
Next Post
APC Distributed New Naira Notes on Election Day – Atiku’s Campaign Council Reveals 

APC Distributed New Naira Notes on Election Day – Atiku’s Campaign Council Reveals 

POS Operator Is Arraigned Over N891,000 Fraud 

POS Operator Is Arraigned Over N891,000 Fraud 

Labour Party Ignores Governorship Candidate, Endorses PDP Candidate in Rivers State

Labour Party Ignores Governorship Candidate, Endorses PDP Candidate in Rivers State

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

News headlines for the 28th of February 2021.

News headlines for the 28th of February 2021.

5 years ago
Wizkid’s New Song ‘Kese (Dance)’ Removed From Apple Music Top 100

Wizkid’s New Song ‘Kese (Dance)’ Removed From Apple Music Top 100

11 months ago
This Is Trump’s Shutdown

Trump Meme Coin Soars 236% Amid Criticism Over Timing

9 months ago
Four Explosions in Western Sahara Kills, Injures Citizens

Four Explosions in Western Sahara Kills, Injures Citizens

2 years ago

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

Topics

2023 Aboki/Bureau De Change (BDC) apc Arsenal buhari Business cbn chelsea china court Davido Dollar Efcc Election Entertainment Euro and Pounds To Naira Exchange Rate For Today exchange rates for the Nigerian Naira (NGN) Fashion federal character federal government Finance food Football Foreign News government health inec Israel lagos Manchester United Naira Naira Black Market exchange rates News Nigeria pdp police Politics president protest Russia Sports tinubu trump ukraine US
No Result
View All Result

Highlights

Who’s Paying for Trump’s $300 Million Ballroom?

Psychologist’s Grave Warning About Trump

“I Am Not Done”: Kamala Harris Hints at 2028 Run, Defining Her Post-Presidency Path

Louvre Evacuates Jewels to Bank After Security Failure

Shina Peters Details Bizarre Plan That Helped Him Rebuild His Reputation

Sunderland​‍​‌‍​‍‌ Stun Chelsea with Late Winner to Climb Second in Premier League

Trending

Manchester United Hit Four Past Brighton to Seal Third Straight Premier League Win
Sports

Manchester United Hit Four Past Brighton to Seal Third Straight Premier League Win

byHashim Kolawole
October 25, 2025
0

Manchester​‍​‌‍​‍‌ United kept the good vibe going with Ruben Amorim by winning 4-2 against Brighton at Old...

Mystery Donor Gives $130M to Pentagon for Troops' Pay, Sparking Backlash

Mystery Donor Gives $130M to Pentagon for Troops’ Pay, Sparking Backlash

October 25, 2025
“We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis

“We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis

October 25, 2025
Who’s Paying for Trump’s $300 Million Ballroom?

Who’s Paying for Trump’s $300 Million Ballroom?

October 25, 2025
Psychologist’s Grave Warning About Trump

Psychologist’s Grave Warning About Trump

October 25, 2025

We launched Federal Character in February 2021 based on the belief that the world is in need of smarter and more efficient reporting of events shaping our rapidly changing world. We pledged to put our audience first, always.

Recent News

  • Manchester United Hit Four Past Brighton to Seal Third Straight Premier League Win
  • Mystery Donor Gives $130M to Pentagon for Troops’ Pay, Sparking Backlash
  • “We Want to Breathe”: Hundreds March in Tunis Over Worsening Pollution Crisis

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

© 2024 FederalCharacter.com

No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion

© 2024 Federalcharacter.com