The Central Bank of Nigeria has yet to release the old N1000 and N500 notes to banks despite asking commercial banks to begin their recirculating those notes on Monday, March 13.
It has been gathered that traders, artisans, PoS operators, students, and several other individuals who visited bank branches, have expressed their disappointment and frustration as they could not withdraw the amounts they wanted for the day-to-day transaction.
Meanwhile, senior management and staff of Guarantee Trust Bank revealed that the bank had yet to receive any old cash from the CBN.
“I have a substantial stock of the old notes and that is what we are recirculating as of today.” He had announced.
The source then went on to explain that major commercial banks had retained the old notes in the days leading up to the February 10 deadline (the original deadline), before the Supreme Court order had truncated the initial timeline by the CBN.
