Return Old Naira Notes To Your Bank Or Forfeit It – CBN Warns

The Central Bank of Nigeria (CBN) has introduced the Clean Note Policy and Bank Notes Fitness Guidelines. The policy is aimed at preserving the 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, we urge you to comply with this directive in order to improve the quality of our national currency.

Failure to comply with this directive will earn the individual or organization currency rejection as service providers will not accept any dirty and mutilated Naira notes.