CBN makes U-turn, orders banks to collect old N500, N1000 notes

CBN makes U-turn, orders banks to collect old N500, N1000 notes

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Israel Arogbonlo

Amid the cash crunch ravaging the country, the Central Bank of Nigeria (CBN) has ordered Deposit Money Banks to collect old N500 and N1,000 notes from customers.

By implication, every Nigerian that has old N500 and N1000 notes can now take it to banks.

Recall many Nigerians in the wee hours of Friday stormed the CBN offices and demanded that the apex bank should collect their old notes.


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