Business

Confusion: Banks dare CBN, to collect old N500, N1000 notes

February 17, 2023 · Admin

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Lots of banks in the nation are opening their branches on Saturday to gather old N500 and N1,000 notes from their consumers contrary to CBN’s directives.

There had been report previously on Friday that the Central Financial institution of Nigeria (CBN) directed commercial banks in the country to collect the previous N500 and N1,000 from prospects.

But the apex lender later denied that it issued this sort of statement.

CBN spokesman, Osita Nwanisobi, claimed “The notice of the Central Financial institution of Nigeria has been drawn to some faux and unauthorized messages quoting the CBN as having authorized the Deposit Income Banking institutions to accumulate the previous N500 and N1,000 Banknotes.

“For the avoidance of doubt, and in line with Mr. President’s broadcast of February 16, 2023, the CBN has been directed to ONLY re-difficulty and recirculates the outdated N200 banknotes and this is anticipated to flow into as lawful tender for 60 days up to April 10, 2023.

“Members of the community really should hence disregard any message and/or info not formally unveiled by the Central Bank of Nigeria on this topic. Media practitioners are encouraged to You should confirm any information from the suitable sources ahead of publication.”

But banking companies like Assure Rely on Bank Minimal (GTCO), Very first Bank, United Bank for Africa (UBA) and Ecobank have despatched text messages to their prospects that they would be opening to accumulate the previous N500 and N1,000 notes from Nigerians.

See Initially Bank’s statement underneath:

Likewise, GTCO explained they would open up to the public on Saturday for gather outdated notes from its customers.

See GTCO statement below:

Also UBA claimed it would open up to shoppers to collect the old notes from them.

See assertion beneath:

Ecobank also despatched messages to shoppers that it would be accepting the previous notes from them.

See assertion below:

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