The Central Bank of Nigeria (CBN) has advised all that have overused or mutilated Naira notes to deposit such monies at the nearest bank on or before Monday, September 2, 2019.
This notice was shared by respective banks as directed by the apex bank.
“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 Polity and Banknotes Fitness Guidelines”, a statement reads as shared by one of the leading banks in the country – Guarantee Trust Bank (GTB).
The statement reads further: “Please note that overused notes include any Naira note that is now weak to such an extent that it could easily tear at further handling or processing. Mutilated notes include any Naira note that has 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 statement concluded.