Deposit Bad Naira Notes In Bank Before Monday – CBN Tells Nigerians

Nigerians have been directed by the Central Bank of Nigeria (CBN) to
deposit bad naira notes in banks before Monday September 2. 

CBN said it is recalling the bad currencies to improve the overall
quality of the Naira notes in circulation. Naira notes expected to be
deposited in banks include those which are weak and could easily tear at
further handling or processing, mutilated notes that are partially or
permanently damaged but which clearly still has more than half of its
original size together.

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The announcement was made in an email GTBank sent out to its customers on Friday August 30. 

It read “Important CBN Notice on Naira Notes” 

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 Policy and Banknotes Fitness Guidelines.

What does this mean for you?

If you have in your possession, overused or mutilated Naira notes,
you are required by the Central Bank of Nigeria (CBN) Clean Note Policy
to deposit such notes at any (bank) branch near you on or before Monday,
September 2, 2019.

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.

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