Tag: N500 Notes

BREAKING: Banks Begin Circulation Of Old N1000, N500 Notes

Aliyu Aliyu

“We have an order to do so from the head office,” Kano, Abuja branches of GTBank, Polaris take the lead   Following the Supreme Court judgment, which extended the validity of the Central Bank of Nigeria (CBN) currency redesign policy to December, some deposit money banks have started paying out the old notes. According to Dailytrust report, some commercial banks in the City of Kano and Abuja have commenced paying out the old N500 and N1000 notes. READ ALSO: BREAKING: Old N1000, N500, N200 Legal Tender Till Dec. 31- Supreme…

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U-TURN: Collect Old N1000, N500 Notes, CBN Orders Banks As Protests Spread

Gbenga Adeoti

Nigerians can now heave a sigh of relief as the Central Bank of Nigeria (CBN) has ordered comercial banks to start collecting the old N500 and N1,000 notes from the public with immediate effect. PUNCH reports that it however, pegged the maximum amount the banks can collect at N500,000. The CBN maintained that the old currencies were no more legal tender. A source from the bank said the CBN ordered the banks to collect the monies instead of going to the CBN office following difficulties encountered in getting access to…

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