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Distribution Companies Defy CBN, To Reject Old Naira Notes From Sunday 



Some electricity Distribution Companies (DisCos) have set Sunday as the deadline for rejecting the old naira notes, two days before the January 31 deadline issued by the Central Bank of Nigeria (CBN).

Some notices were sighted from some of the DisCos notifying customers that they would not accept the old naira notes.

READ ALSO: Old Naira Notes: Gov Ortom Seeks Extension Of Deadline  

A notice by the Abuja Electricity Distribution Company (AEDC) circulated on its social media platforms to its over one million customers across three states and FCT, reads thus: “We wish to notify our esteemed customers that we will discontinue the acceptance of old N200, N500 and N1,000 effective Sunday, January 29th 2023.

“Customers are advised to make use of our electronic payment channels or tender new notes for their transactions,” AEDC stated.

Kaduna Electric also issued notice to its over 600,000 registered electricity customers in four states. 

It said, “Dear esteemed customers, in compliance with the CBN deadline on the use of old N200, N500 and N1,000 notes, Kaduna Electric will stop accepting the old naira notes from Sunday, January 29th, 2023. Customers can, however, use our online payment channels for transactions.”

Some customers were worried about the notice as they said the power firms should have complied with the Tuesday deadline rather than setting their own timeline for rejecting the old naira notes. 

“This will worry customers more because, at the moment, most ATMs are locked as they are not discharging the new naira notes. We now resort to making withdrawals at PoS operators’ terminals and the majority of them do not have the redesigned naira note,” said Bala Usman, an AEDC customer in Abuja.

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