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News/Events » CBN starts countdown for the expiry date of the old #1000,#500 and #200 notes by: FUNMINIYIIDOWUT(m) .:. Fri, 06 Jan, 2023 - 02:33:25:pm GMT
Jan 6, 2023 12shock9 PM
CBN starts the countdown for the expiration of the old N1,000, N500, N200 notes

Amid said that the new naira notes are not fully in circulation, the Central Bank of Nigeria (CBN) has Begin countdown which started on January 1 2023 to January 31 which will be the deadline of the old N1,000, N500, and N200 notes and will come to end of it to be legal tender in the nation.


Unveiling the countdown on its Twitter page on Friday, the apex bank said the deadline now remains 24 days and a few hours. CBN also said that the current series of N200, N500, and N1,000 notes remain legal tender until the deadline of January 31, 2023.”

CBN begins countdown to the expiration of old N1,000, N500, N200 notes
Nigerians react: Meanwhile, reactions from Nigerians have trailed the countdown on Twitter, with many people faulting the CBN for insisting on the deadline without making enough notes available. Reacting to the bank's countdown, a Twitter user, Edidiong Enwe said:
Till today I haven't had any new notes. Quite okay I've seen just 1000 notes with someone. I'm staying in a student area where we expect quick circulation of money. How then do you give 3 weeks countdown? Do something about it before you start a countdown”

Another tweets Benedict Nwokoye, lamented about the scarcity of the new notes and wondered how it would be possible to phase out the new notes on January 31. He said:

Like seriously? I went to withdraw money from the ATM (first bank) and was given old notes. I went to the counter to ask for the new notes, I was told I'll not be given more than 10,000.00. How can the dates be possible when banks are still dispensing old notes?”
Also reacting to the CBN's countdown, a Twitter user who identified himself as Mr A, said:

How will the old notes be stopped in 24 days? Some of us haven't even set our eyes on them and yet they're in circulation.”
For Eddie Onos, the CBN has not shown any seriousness with the deadline. He said:

Can we be serious for once, please? As of today, ATMs and banks are still dispensing the old notes that are supposed to become illegal tender by the 31st of this month. The financial institutions ought to have stopped issuing them out by now.”
National Assembly's call: The Nigerian Senate had last month urged the CBN to extend the deadline on old naira notes withdrawal from 31st January to 30th June 2023. Senator Ali Ndume cited Orders 41 and 51 to seek the leave of the Senate to move a motion on the urgent need to extend the withdrawal of old currency from circulation.

Also, Senator Uzor Kalu urged the CBN to go as far as April ending to enable people to deposit their cash in banks.”

However, with the beginning of the countdown today, the CBN seems not to be deferring to the National Assembly's call.”

Another tweep, Benedict Nwokoye, lamented about the scarcity of the new notes and wondered how it would be possible to phase out the new notes on January 31. He said:

Like seriously? I went to withdraw money from the ATM (first bank) and was given old notes. I went to the counter to ask for the new notes, I was told I'll not be given more than 10,000.00. How can the dates be possible when banks are still dispensing old notes?”
Also reacting to the CBN's countdown, a Twitter user who identified himself as Mr A, said:

How will the old notes be stopped in 24 days? Some of us haven't even set our eyes on them and yet they're in circulation.”
For Eddie Onos, the CBN has not shown any seriousness with the deadline. He said:

Can we be serious for once, please? As of today, ATMs and banks are still dispensing the old notes that are supposed to become illegal tender by the 31st of this month. The financial institutions ought to have stopped issuing them out by now.”
National Assembly's call: The Nigerian Senate had last month urged the CBN to extend the deadline on old naira notes withdrawal from 31st January to 30th June 2023. Senator Ali Ndume cited Orders 41 and 51 to seek the leave of the Senate to move a motion on the urgent need to extend the withdrawal of old currency from circulation.

Also, Senator Uzor Kalu urged the CBN to go as far as April ending to enable people to deposit their cash in banks.”

However, with the beginning of the countdown today, the CBN seems not to be deferring to the National Assembly's call.

**HIGH-DEE**

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Re: CBN starts countdown for the expiry date of the old #1000,#500 and #200 notes by: Queen(f) .:. Mon, 09 Jan, 2023 - 10:23:48:pm GMT

Seriously, I hate the new money.
It's bad enough that they have to change the money which is no fault of ours, they should have changed it to something more.

The new money looks like a joke to me. Am sure we can do better.
**It is well**


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Re: CBN starts countdown for the expiry date of the old #1000,#500 and #200 notes by: Obajichi(f) .:. Tue, 10 Jan, 2023 - 04:57:18:pm GMT

As CBN begins their countdown,millions if Nigerians still do not have easy access to this new money.

People are still not in line with accepting it and they wish to continue with the old.

I think CBN's decision on this new notes is permanent.

Surprisingly, the fake notes are already in circulation, making it difficult for people to tell which is original and which is fake.

Too bad!


**I love being me.**


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Re: CBN starts countdown for the expiry date of the old #1000,#500 and #200 notes by: Queen(f) .:. Wed, 18 Jan, 2023 - 03:32:04:pm GMT

@Obajichi:they starting countdown meanwhile the new money is no where to be found, up until now I don't know how the #200 look like. When they finally stop, what are we going to be using. Hmm I smell confusion in distress. God forbid.

Let them make the notes available. Availability of the notes should be there consern not countdown.
**It is well**


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