Commercial Bank Confirms Receiving Old N500, N1000 Notes

Daily Post reports that an official of Access Bank has made a new disclosure.

He disclosed that the bank on Monday started receiving the old N500 and N1000 notes from customers who have filled out the Central Bank of Nigeria form for a cash swap.

The Head Media Relations Unit, Access Bank Plc, Abdul Imoyo, disclosed this DAILY POST.

Giving an update on the state of things across its branches amid the currency crisis, Imoyo said normalcy is gradually returning to the banking system.

“Our branches have started collecting the old notes from customers from Monday. However, it is strictly for customers who have filled out cash swap forms from the Central Bank of Nigeria. The guideline is the same as CBN earlier stated”, Imoyo stated.

Earlier, there has been confusion in commercial banks over CBN’s conflicting directives on the old naira collection.

CBN has insisted on the February 10 deadline to phase out the old notes (N500 and N1000) according to its naira redesign policy despite the Supreme Court restraining order.