When is the deadline for old naira note in Nigeria

Nigeria is in chaos as many are still asking When is the deadline for old naira note in Nigeria. Nigerian banks will phase out high-grade Naira notes on 10 February 2023 as the Central Bank of Nigeria (CBN) ignored a Supreme Court order to prevent the federal government from banning legacy banknotes. They are still strictly adhering e to the deadline of 10 February 2023.

“The notes, N200, N500 and N1000 designs will no longer be accepted as legal tender after 10 February 2023. Deposit your old banknotes at one of our branches now,” said Tier 2. lender Stanbic IBTC said in a memo to customers.

When is the deadline for old naira note in Nigeria

The deadline has still not changed, it is still 10 February 2023

The Board of Directors of the Bank of Nigeria (BDAN) expressed sympathy to the public for the inconveniences and difficulties associated with the recent currency reform which introduced a redesign of the Naira banknote and lower withdrawal limits.

“We are in constant contact with all banks and are confident that they are doing everything in their power to normalize this difficult situation. We call on the banking industry to maintain peace. Rest assured that BDAN is taking all reasonable steps to remove bottlenecks and influence structures and mechanisms designed to open channels for hastening the resolution of crises.Chairman, Board of Directors Meeting, BDAN.

Source: https://businessday.ng/

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