CBN orders banks to collect old N500, N1,000 notes 

THE Central Bank of Nigeria has ordered banks to start collecting the old N500 and N1,000 notes from the public with immediate effect.

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

The CBN maintained that the old currencies were no more legal tender.

According to the PUNCH, the CBN ordered the banks to collect the monies instead of going to the CBN office following difficulties encountered in getting access to the bank.

Details later…