{"id":14877,"date":"2023-02-17T15:04:08","date_gmt":"2023-02-17T15:04:08","guid":{"rendered":"https:\/\/newsreservoir.com\/?p=14877"},"modified":"2023-02-17T15:04:08","modified_gmt":"2023-02-17T15:04:08","slug":"emefele-orders-banks-to-collect-old-n500-n1000-notes","status":"publish","type":"post","link":"https:\/\/newsreservoir.com\/?p=14877","title":{"rendered":"Emefele Orders Banks to Collect old N500, N1,000 notes\u00a0"},"content":{"rendered":"<div dir=\"auto\">Emefele Orders Banks to Collect old N500, N1,000 notes<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The Central Bank of Nigeria has ordered all commercial banks to with immediate effect start collecting the old N500 and N1,000 notes from the public.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">It, however, pegged the maximum amount the banks can collect at N500,000.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The CBN maintained that the old currencies were no more legal tender.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">A source from the bank said the CBN ordered the banks to collect the monies instead of going to the CBN office following difficulties encountered in getting access to the bank.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Punch quoted a CBN official as saying, \u201cGo 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.\u201d<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Earlier, the CBN opened a portal on its website and made it mandatory for those willing to return old notes to fill and generate a code.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">On Thursday, the CBN Governor, Godwin Emefiele, ordered the banks to make the old N200 notes available to Nigerians.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">This was after the President, Major General Muhammadu Buhari (retd.), said the old N200 note would be legal tender till April 10, 2023, while urging Nigerians to deposit their old N500 and 1000 notes with the CBN.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">However, protests which had been rocking different states over the scarcity of the new naira notes made the CBN order banks to collect higher denominations after meeting with banks\u2019 leaders.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Source Punch<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Emefele Orders Banks to Collect old N500, N1,000 notes The Central Bank of Nigeria has ordered all commercial banks to with immediate effect start collecting the old N500 and N1,000 notes from the public. It, however, pegged the maximum amount the banks can collect at N500,000. The CBN maintained that the old currencies were no [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":14683,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[],"class_list":["post-14877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Emefele Orders Banks to Collect old N500, N1,000 notes\u00a0 -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newsreservoir.com\/?p=14877\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Emefele Orders Banks to Collect old N500, N1,000 notes\u00a0 -\" \/>\n<meta property=\"og:description\" content=\"Emefele Orders Banks to Collect old N500, N1,000 notes The Central Bank of Nigeria has ordered all commercial banks to with immediate effect start collecting the old N500 and N1,000 notes from the public. 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