CBN Directs Banks To Collect Dirty, Mutilated Naira By Monday

By Augustine Adah

In a bid to improve the quality of naira notes, the Central Bank of Nigeria, CBN, has directed holders of mutilated Naira notes to deposit such in any bank branch close to them on or before September 2.

The information was contained in an email message sent by GT Bank to its customers on Friday.

Entitled, “Important CBN Notice on Naira Notes,” the email states:

The information said, “As part of its efforts to improve the overall quality of the Naira notes in circulation, the Central Bank of Nigeria (CBN) has introduced the Clean Note Policy and Banknotes Fitness Guidelines”.

By the information, all those who have overused or mutilated naira notes in their possession are required by the CBN Clean Note Policy to deposit such notes at any bank branch nearest to them on or before Monday, September 2, 2019.

According to the information overused notes include any Naira note that are now weak to such an extent that it could easily tear at further handling or processing.

Mutilated notes include any Naira note that have been partially or permanently damaged, but which clearly still has more than half of its original size together.

“As Nigerians, it is our patriotic and collective responsibility to handle the Naira with care; and as your Bank, we urge you to comply with this directive in order to improve the quality of our national currency,” the bank said.

 And For More Nigerian News Visit GWG.NG