By our Reporter
The Central Bank of Nigeria has ordered banks to start collecting the old N500 and N1,000 notes from the public with immediate effect.
It, however, pegged the maximum amount the banks can collect at N500,000.
The CBN maintained that the old currencies were no more legal tender.
According a reliable source from CBN said the order given to banks was to collect the monies instead of going to the CBN office following difficulties encountered in getting access to the bank.
This was after the President Muhammadu Buhari , 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.
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’ leaders.