First Bank of Nigeria, FBN Limted has assured customers that all its branches across the county will open this weekend to attend to them in view of the deadline set by the CBN to demonetize the current N200, N500 and N1000 banknotes.
This, is indeed, is a welcome development, and some customers who spoke to The Source said they are really excited by the announcement.
The Kazeem Adeduntan-led commercial banks said it’s branches will open Saturday and Sunday to attend to customers who may want to deposit existing naira notes, which by next Tuesday, January 31 seize to be legal tender, according to the apex Bank’s Naira Redesign policy.
“This is to notify the general public that all our branches will be open on Saturday and Sunday just to receive cash.
“All old Naira notes of series 200, 500, and 1000 will cease to be in use from the 31st of January,” the nation’s premier bank said in a notification to customers.
The bank’s position is contrary to rumour being peddled among some customers that it will no longer collect the old naira notes from customers after Today, January 27, 2023.
On November 17, last year, following its decision to redesign the old naira notes, the Godwin Emefiele-led government bank directed all the commercial banks in the country to work on Saturdays to enable customers return existing naira notes for new notes.
The banks“have also been instructed to receive the existing banknotes beyond the threshold stipulated by the Cashless Policy without charges to customers,” Osita Nwanisobi, CBN’s Head Corporate Communications, said.
But only a few banks have so far obeyed the directive.
The critical step by First Bank, sources in the industry informed the magazine is most likely to push other commercial banks to act in the same manner as the deadline approaches.
