Getting to almost one week into the release into circulation of the newly designed denomination of N200, N500, and N1,000 by the Central Bank of Nigeria (CBN), many commercial banks are still paying bank customers with the old notes.
Checks at ATMs over the weekend across Lagos State showed that majority of the machines are still discharging old naira notes.
The Governor of CBN, Godwin Emefiele, had on October 26, 2022, announced that new Naira notes would be introduced to replace the current 200, 500, and 1,000 Naira notes.
Emefiele said the circulation of the redesigned notes would take effect from December 15, 2022, and grace to deposit all old denominations would end by January 31,2023.
However, a banker at Lagos International Trade Fair complex confided in our reporter that effective this week, more new notes will be in circulation.
