The Central Bank of Nigeria (CBN) has promised to sanction commercial banks still dispensing old naira notes ahead of the January 31 deadline.
Godwin Emefiele, the CBN governor, stated this during a sensitisation campaign on the redesigned Naira notes at Alamis Market in Lafia, Nasarawa, on Thursday.
Represented by CBN’s director of security service, Atiku Mohammed-Nasir, Emefiele urged the traders and residents of the state to embrace the redesigned notes for their transactions.
He reminded them that the old N200, N500 and N1,000 notes would cease to be legal tender on January 31.
“Henceforth, When you go to any commercial bank, and you are issued the old N200, N500 and N1,000 do not collect (them) because they would become useless from January 31,” Emefiele stated.
“We will henceforth sanction any bank found guilty of dispensing the old naira notes at ATMs or over the counters to customers.”
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He added, “The CBN has supplied adequate new Naira notes to the various commercial banks. If any bank issues you old naira notes, report such bank to the CBN for appropriate action.”
The CBN governor insisted that there would be no extension of the January 31 deadline for the termination of the old notes despite appeals for an extension by the traders.
Therefore, he urged traders to make haste and change their monies before the deadline.
