The Central Bank of Nigeria (CBN) has directed banks to collect the old N500 and N1,000 notes from members of the public.

It, however, pegged the maximum amount the banks can collect at N500,000.

Osita Nwanisobi, director of the apex bank’s corporate communications, confirmed the development to TheCable on Friday, saying “It’s just for amounts N500,000 and below.”

Leave a Reply

Your email address will not be published. Required fields are marked *