No extension of deadline for old notes, says CBN

• Published date: 21 January 2023
• Publication title: Nigeria - The Nation

The Central Bank of Nigeria (CBN) has stated it won't extend the deadline for expiration of old naira notes.

It urged Nigerians not to wait till the January 31 deadline to turn in their old notes.

The CBN has announced the January 31 deadline for old N200, N500 and N1,000 notes won't change.

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Speaking in Ibadan during an advocacy visit on the new notes to the Olubadan of Ibadanland, Oba Lekan Balogun, the Controller CBN Ibadan branch, Olufolake Ogundero, said that cash deposits to banks between now and January 31th attract no charges, adding there is no limit to amount of old notes people can deposit.

According to her, all banks keep their Currency Processing Centres open from Monday to Saturday to collect cash deposits from their respective customers.

She said: 'We have come here on the instructions of CBN Governor to sensitise the Olubadan, Olubadan-in-Council and people of the state about the 31st January deadline for the exchange of old Naira notes and also to tell them that the money is now available, they should go and deposit their old Naira notes because there will be no extension for the date.'

Ogundero said the new notes have the same security features as the old ones, saying...