Naira Notes Redesign: Central Bank Orders Commercial Banks To Work On Saturdays
November 17, 2022



CBN Governor, Godwin Emefiele, while announcing the plan, had said the new redesigned notes would be released by December 15, 2022.

Nigeria's apex bank, the Central Bank of Nigeria (CBN) has ordered commercial banks across the country to open for work on Saturdays from now till January 31, 2023, to enable customers return existing naira notes.

Recall that CBN had announced plans to redesign some Nigeria's Naira notes including N200, N500 and N1000.

Against public condemnation, the CBN Governor, Godwin Emefiele, while announcing the plan, had said the new redesigned notes would be released by December 15, 2022, while Nigerians would stop using the old banknotes from January 31, 2023.

While speaking at the CBN fair in Ilorin, Kwara State capital, the CBN Director of Corporate Communications Department, Osita Nwasinobi, reinstated that the new and existing notes would remain legal tender until January 31, 2023, when the existing notes shall cease to be legal tender.

Nwasinobi, who spoke on the theme, "Promoting financial stability and economic development," was represented by the bank's acting director of Corporate Communications, Akpama Uket, according to PUNCH.

The Director said that Deposit Money Banks had been directed to immediately start returning the existing currencies to the CBN.

He said, "They have also been instructed to receive the existing banknotes beyond the threshold stipulated by the Cashless Policy without charges to customers.

"Consequently, you must return all the current N200, N500, and N1,000 banknotes to your bank before the expiration of the deadline."

The CBN further warned Nigerians of the consequences of mishandling naira notes, saying, "Let me also reiterate the need to handle the naira with care. The naira remains a symbol of our national pride. Treat it with utmost dignity.

"Do not spray, squeeze or counterfeit the naira, as default goes with consequences."

Source

"Consequently, you must return all the current N200, N500, and N1,000 banknotes to your bank before the expiration of the deadline."

Lovely

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All the money must go back into circulation.
Not hidden in underground bunkers by bullion van criminals and corrupt politicians.

It appears the government doesn't want to punish looters. Buhari just wants to take possession of all naira notes so that vote-buying can be minimised to the barest minimum.

Waste of resources.

Dem reduce closing hours come increase working days

That's the only way to meet the deadline

It's time to replace those generic power extension with this smart power strip from Oraimo

I hope the banks will pay overtime to their staffs haa and no owambe for the rest of the year to them again. Sorry to the teller guys

They should also redesign APC to PDAPC

Mugu. Because you want to retrieve old notes in a hurry, you have chosen to overwork an already overworked set.

What happens to retrieving the old notes systematically? Nigeria is still very much a cash economy, so people must make deposits. Accept it and disburse new notes. In 6 months, we would be done with this.

Next thing now, common man would start having issues at Ile Epo market. One iya that is selling shoko and iru would refuse to take old notes very soon.

Chai, my voluptuos girl Ebunoluwa, a cashier at Gtbank will now have further excuses for our tryst this Saturday.

Useless people

Why’s that Is it to allow them troop in more money into banks unsuspectedly

[img]https://giffiles./216/216347.gif[/img]

Buhari and this CBN Governor wants to siphon money by all means

iiifedimma:
everyone please don't mind this fraudsters anything you send to him nah to drinks and catch fun wth it please don't mind this man he has always been using this same format to still defraud a lot of people on Nairaland

Pls guys, if you're led to help pls kindly assist me with some money to buy drugs. Am very sick with malaria and typhoid but I haven't taken drugs or eaten anything since morning due to lack of money. I live with my dad who is retired and my mom is late. Am pleading from my heart pls kindly assist me pls. may God bless you Acct no:

Nawa oo

Good

.

Bank workers go sweat for yansh this naira redesign season

Hope they will increase their salary

The looting is going to be massive

I hope the bank pay for over time of employees.

Okay

Father4all:
Buhari and this CBN Governor wants to siphon money by all means

Everyone involve will probably become a multi billionaire
The worse is nobody will be able to question them on how much they get back from circulation.

OLAADEGBU:


"Consequently, you must return all the current N200, N500, and N1,000 banknotes to your bank before the expiration of the deadline."

ValCon888:
All the money must go back into circulation.
Not hidden in underground bunkers by bullion van criminals and corrupt politicians.

How u take know all this hideout?

Hope the commercial banks go pay their staff overtime.

Abi na "If you are not ready to do overtime for free drop your resignation letter"
I trust Nigerian employers, greedy, proud, unreasonable bastard that see workers as slaves.

Who the hell is he? Is he their employer?

Incompetent buffoon like his Oga.

Flier:
Everyone involve will probably become a multi billionaire
The worse is nobody will be able to question them on much they get back from circulation.

rubbish country. The whites should be ready to colonize us again

Buhari no gree oo