CBN Gives Monday Deadline For Nigerians To Deposit Bad Naira Notes
The Central Bank of Nigeria (CBN) has directed Nigerians to deposit all bad Naira notes in their possession with their respective commercial banks on or before Monday, September 2, 2019.
According to CBN, the move is in line with its Clean Note Policy and Banknotes Fitness Guidelines which aims to improve the overall quality of the Naira notes in circulation.
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The directive was contained in an e-mail sent out by Guaranty Trust Bank to its customers on Friday.
The notice read: “If you have in your possession, overused or mutilated Naira notes, you are required by the Central Bank of Nigeria (CBN) Clean Note Policy to deposit such notes at any branch near you on or before Monday, September 2, 2019.
“Please note that overused notes include any Naira note that is now weak to such an extent that it could easily tear at further handling or processing. Mutilated notes include any Naira note that has been partially or permanently damaged, but which clearly still has more than half of its original size together.
“As Nigerians, it is our patriotic and collective responsibility to handle the Naira with care and as your bank, we urge you to comply with this directive in order to improve the quality of our national currency. Thank you for banking with us,” read the bank’s email.
