Naira Redesign: CBN Instructs Commercial Banks In The Country To Open On Saturdays

The Central Bank of Nigeria has directed all commercial banks in the country to open on Saturdays till January 31, 2023, in order to enable customers return existing naira notes.

The CBN had announced plans to redesign the N200, N500, and N1,000 banknotes, and release the new notes by December 15, 2022.

Speaking at the CBN fair in Ilorin, Kwara State capital, on Thursday, the CBN Director, Corporate Communications Department, Osita Nwasinobi, made it known that the new and existing notes shall remain legal tender until January 31, 2023, when the existing notes shall cease to be legal tender.

Meanwhile, the CBN warned Nigerians of the consequences of mishandling naira notes, saying, “Let me also reiterate the need to handle the naira with care. The naira remains a symbol of our national pride. Treat it with utmost dignity.