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House of Reps Urges CBN to Withdraw Old Notes Ahead of 2025 Deadline

Nnaemeka OkwarabyNnaemeka Okwara
October 24, 2024
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House of Reps Urges CBN to Withdraw Old Notes Ahead of 2025 Deadline
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The Nigerian House of Representatives has urged the Central Bank of Nigeria (CBN) to speed up the release of new N200, N500, and N1,000 banknotes and start taking out old notes in stages before the December 31, 2024, deadline.

The House wants to make sure that commercial banks have enough new notes and that old notes are taken out in a planned way. Lawmaker Adam Victor Ogene said it’s important to have more new notes available to avoid problems in the economy.

The House is worried that people don’t know enough about the change, so they suggested using TV, radio, and other media to spread the word across the country. With only two months left, the lawmakers are unhappy that the CBN doesn’t seem to be ready.

The Central Bank of Nigeria (CBN) is anticipated to address the House’s recommendations, explaining its plan for a seamless shift before the January 2025 deadline.

Tags: 2025deadlinefederal characterhouse of repsHouse of Reps Urges CBN to Withdraw Old Notes Ahead of 2025 DeadlineNewsOld notes
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking.Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation.As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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