The Central Bank of Nigeria (CBN) has sent out an important information to Nigerians who have bad currency notes and are unable to use them.
The bank has instructed that all torn and mutilated Naira notes should be taken to the banks on Monday in exchange for clean naira notes.
The message reads:
“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 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. Thank you for banking with us.”