You are aware that the Central Bank of Nigeria (CBN) has redesigned N200, N500 and N1000 notes after so many years. The N200 color has been changed to red, the N500 has been changed to green and the N1000 has been changed to blue.
CBN said that the main reason for the Naira redesign is to make the Naira more safe and make them last longer.
In this article, I’ll tell you what to do with the old Naira notes.
As a business person, if a customer gives you the old Naira notes after they expire, you should not collect if because it is considered invalid after the day it expires.
A reason why a country redesigns its currency is security.
What To Do With The Old Naira Notes?
If you are with the old Naira notes, you are expected to take it to the bank so you can be given the new Naira notes.
When Will The Old Naira Notes Expire?
The old Naira notes will expire January 31, 2023.
When Will The New Notes Be Shared To Banks.
The new Naira notes will be circulated on December 15 2022.
Bank will be opened on Saturdays because of the Naira notes.
Hope this article has been helpful, you can drop a question in the comment section below.
