Bad Naira Notes: CBN Issues Deadline

By Ikenga Chronicles September 2, 2019

Bad Naira Notes: CBN Issues Deadline

Nigerians have been asked by the Central Bank of Nigeria (CBN) to head to commercial banks with torn and mutilated notes for clean ones.

This was after listening to complaints by Nigerians over too many torn naira notes in circulation.

Already, Guarantee Trust Bank(GTB) has sent an e-mail to its customers, with the caption, “Important CBN Notice on Naira Notes.”

The message reads: “As part of its efforts to improve the overall quality of the Naira notes in circulation, the Central Bank of Nigeria (CBN) has introduced the Clean Note Policy and Banknotes Fitness Guidelines.

“What does this mean for you? If you have in your possession, overused or mutilated Naira notes, you are required by the Central Bank of Nigeria (CBN) Clean Note Policy to deposit such notes at any branch near you on or before Monday, September 2, 2019.

“Please note that overused notes include any Naira note that is now weak to such an extent that it could easily tear at further handling or processing. Mutilated notes include any Naira note that has been partially or permanently damaged, but which clearly still has more than half of its original size together.

“As Nigerians, it is our patriotic and collective responsibility to handle the Naira with care, and as your Bank, we urge you to comply with this directive in order to improve the quality of our national currency. Thank you for banking with us.”

45 views