Tag: N500

CBN denies extending validity of old 500, 1000 naira notes deadline

Bode DoluLeave a Comment on CBN denies extending validity of old 500, 1000 naira notes deadline

Central Bank of Nigeria (CBN) has dissociated itself from a report making the rounds that it had extended the validity of old N500 and N1,000 notes to May 1st, describing the story as fake news. The fake statement purportedly issued by the Director of Communications, Osita Nwanisobi, quoted him as saying: “Due to the current […]

Continue Reading

Ignoring El-Rufai, Kaduna residents storm CBN office to deposit old N500, N1000 notes (Video)

Bode DoluLeave a Comment on Ignoring El-Rufai, Kaduna residents storm CBN office to deposit old N500, N1000 notes (Video)

A video showing a crowd in front of the Central Bank of Nigeria annex office in Kaduna state as they attempt to deposit their old N500 and N1000 notes has made the rounds on social media. On Thursday, February 16, President Buhari in a nationwide broadcast extended the validity of the old N200 notes till […]

Continue Reading

CBN directs commercial banks to collect old N500, N1,000 notes

Bode DoluLeave a Comment on CBN directs commercial banks to collect old N500, N1,000 notes

Central Bank of Nigeria (CBN), insisting that the old N500 and N1,000 currencies were no more legal tender, has ordered commercial banks to start collecting the old N500 and N1,000 notes from the public with immediate effect. The apex bank however pegged the maximum amount the banks can collect at N500,000. A source from the […]

Continue Reading