The Central Bank of Nigeria, CBN has directed commercial banks in the country to collect the old N500 and N1000 notes from customers who are willing to return them.
Osita Nwanisobi CBN Director of corporate communications diclosed this on Friday while responding to a question on whether commercial banks could still collect the old notes.
The banks, he said, have been directed to collect not more than N500 , 000 from each customer.
President Muhammadu Buhari had in a broadcast on Thursday sparked more confusion in the country after he said the two denominations have been demonetize, while he extended the validity of the old N200 notes by 60 to April 10.
On its part, the CBN had also informed Nigerians that their old notes would only be received through a very rigorous process by the apex bank.
It is unclear why the CBN made a uturn on the issue, but not a few said the decision will bring relief to bank customers and reduce tension.
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