The Centre for the Promotion of Private Enterprise [CPPE] on Sunday urged the Central Bank of Nigeria (CBN) to allow Nigerians deposit their old N500 and N1,000 notes at commercial banks across the country.
In a statement signed by Muda Yusuf, director of CPPE, the think tank said that the confusion caused by the CBN is inflicting additional pain on already traumatised millions of innocent Nigerians seeking to return the old notes.
Last Friday, reports claimed that the CBN had ordered banks to start collecting the old N500 and N1,000 notes from the public. The reports claimed that the apex bank pegged the maximum amount the banks could collect from their customers at N500,000.
But in its reaction, the apex bank urged Nigerians to disregard the claims as it never authorised the banks to take such decisions.
The developments come amid tension generated by the cash redesign policy in recent weeks.
On Sunday, the CPPE called on the CBN to consider the plight of…
