Reps Urge CBN To Withdrawal Old Notes Before December Deadline

Post created on 11:14 am

Two months to the year rounding off, the House of Representatives has called on the Central Bank of Nigeria, CBN, to adequately make jingles on radios, Television stations, and social media to sensitize the public about the December 31, 2024, expiration of old naira notes to avoid a repeat of 2023.

The motion was moved by Afam Ogene during a plenary on Thursday that the CBN should have been carrying out enough public engagement so that the chaos of 2023 will not repeat itself as the old N200, N500, and N1000 notes cease to be legal tender by January 1, 2025.

The lawmakers advised the CBN to start issuing the new notes for an easy, smooth transition of the fade out of old notes even as commercial banks comply with the directives.