The Central Bank of Nigeria has directed all commercial banks in the country to collect the old N1000 and N500 notes from the public.

Recall that the CBN governor, Godwin Emefiele had declared that the old naira notes ceased to be legal tenders since February 10th, 2023.

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However, following the difficulty faced by the public in depositing their old currencies at apex bank, it ordered banks to commence the collection of the old notes.

It was learnt that the customers would generate reference codes from the CBN website which would enable them deposit the old currency successful at commercial banks.

Although, the apex bank gave a N500,000 deposit limit to the banks, it maintained that the old notes were no longer legal tenders.

ThisNigeria reported that President Muhammadu Buhari, on Thursday, announced that he had directed the CBN to make the old N200 notes available for use to the public till April 10, 2023, while urging Nigerians to deposit their old N500 and N1000 notes.