Old currency’ deadline sacrosanct- CBN insists

…Implores traders, others to use cashless transaction outlets

The Central Bank of Nigeria ( CBN) on Friday urged Nigerians not to wait till January 31 to turn in old notes for the new re-designed ones. The bank insisted that January 31, 2023 deadline for old notes to cease being legal tender is sacrosanct.
This was as apex bank urged market traders, business operators and Nigerians to embrace various cashless channel outlets to return old currency’notes in their possession, and make use of same of same cashless transaction channels as preference for cash transaction.
A Director of the apex bank and Managing Director, NIRSAL Microfinance Bank, Dr. Abdullahi Abubakar Kure stated this on Friday in Abuja while addressing traders at Garki modern market in continuation of CBN’s sensitization of Nigerians on the new naira notes and cashless policy.
“You all observed this sensitization excercise by the CBN has been on going. It’s a two-leg excercise. One of it, is to tell you to return your old notes in your custody for the new re-designed notes between now and 31st January, 2023. At the expiration of the deadline, your old notes will be useless.
“The second leg of the excercise is enlightenment on cashless policy. Endeavour to use all the cashless transaction points such as POS, internet enabled banking, USSD for your transactions.
“We have enough stock of new notes and we have asked the CBN to come and pick and load them into their ATMs,” Dr. Kure admonished Garki market traders. The engagement was part of CBN’s on-going effort sensitize Nigerians on the new notes.