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CBN Directs Bank to Open on Saturday.

Eriki Joan UgunushebyEriki Joan Ugunushe
November 17, 2022
in News
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CBN Directs Bank to Open on Saturday.
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We’ve been hearing the news that the FG wants to redesign the  N200, N500, and N1000 bank notes by December 15, 2022.

Orders coming from the central bank are that Banks should work on Saturdays till January 31st to enable customers to return the existing banknotes.

Osita Nwansiobi, the CBN Director, cooperate Communications department at the CBN fair in Ilorin that the old banknotes shall remain legal tender until 31st of December when they’ll seize to remain legal tender.

“They have also been instructed to receive the existing banknotes beyond the threshold stipulated by the Cashless Policy without charges to customers.“Consequently, you must return all the current N200, N500, and N1,000

banknotes to your bank before the expiration of the deadline,” he said.

CBN also warned Nigerians to handle the old banknotes with care and not to squeeze disfigure or damage them or even spray it on occasions

“Let me also reiterate the need to handle the naira with care.”

“Do not spray, squeeze or counterfeit the naira, as default goes with consequences

Many Nigerians have condemned the plans to redesign the naira notes, as they feel that the country is going through a lot of crises, and redesigning the naira notes, should not be our major priority now.

Tags: bankcbnDirectsOpen on Saturday.
Eriki Joan Ugunushe

Eriki Joan Ugunushe

Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Graduated from the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.

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