Banks continue to collect old N500, N1000 notes

Deposit Money Banks this morning continued to collect old N500 and N1,000 notes from customers.

This is contrary to a statement by the Central Bank of Nigeria, that it did not direct banks to collect the old N5,00 and N1,000 notes from customers.

The banks, that are collecting the old notes include GTB, First Bank, Fidelity Bank, and Sterling Bank.

Also, in contradiction to the CBN statement, the Cash Return Portal of the CBN directed people with old N500 and old N1,000 notes below N500,000 to go to their bank to make the deposit.

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