CBN to release more old naira notes to banks
Last night, the Central Bank of Nigeria (CBN) took action to alleviate the acute cash shortage. More outdated N1000 and N500 notes will be poured into the financial system.
Informed sources within the apex bank told The Nation that commercial bank headquarters had been called to arrange for the collection of the old notes that the commercial banks had returned to the Central Bank for circulation.
“Banks have been instructed to collect the old naira notes they deposited in the CBN. Before the end of the week, the country would be awash with naira notes,†the source said.
It was discovered that today is the last day to return old naira notes to bank branches.
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