OLD NAIRA NOTES: Banks To Open Weekend Ahead Of January 31, Deadline

On Jan 27, 2023

Some Nigerian banks will be opened over the weekend, as part of measures to ensure customers’ compliance to the Central Bank of Nigeria (CBN)’s deadline on the old notes.

Nigeria’s Central Bank introduced new banknotes to replace the current N200, N500 and N1,000 notes with effect from December 15, 2022.

The apex bank also fixed January 31, as deadline for the expiration of old notes.

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Consequently, one of Nigeria’s first generation banks sent messages to customers, announcing that it will be opened for business on Saturday, calling customers to come and deposit their old cash.

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Also on Friday, Guaranty Trust Bank and Zenith Bank respectively, issued notification to its customers on the need to deposit old banknotes in branches close to them on Saturday and Sunday.

Godwin Emefiele, governor of the CBN had disclosed that there is no going back on the January 31st, 2023 deadline.

Emefiele had enjoined customers of banks to pay into their bank accounts the existing currency to enable them withdraw the new banknotes, whose circulation began in mid-December 2022.