HALLMARK NEWS
The Central Bank of Nigeria (CBN) has ordered banks to start collecting the old N500 and N1,000 notes from the public with immediate effect.
It, however, pegged the maximum amount the banks can collect at N500,000.
The CBN also maintained that the old currencies were no more legal tender.
A source in the apex bank told newsmen that the CBN ordered the banks to collect the monies instead of going to the CBN office following the rowdiness been experienced in the bank branches across the country.
“Go to your bank but fill out the form before you go. Go with the reference code you generate. With your code, banks will collect it from you. But if it is more than 500,000, you will go to the CBN and deposit it”, a CBN official said.
The CBN had earlier opened a portal on its website and made it mandatory for those willing to return old notes to fill and generate a code.
On Thursday, the CBN Governor, Godwin Emefiele, ordered the banks to make the old N200 notes available to Nigerians.
