WRITTEN BY: CHIOMA MADONNA NDUKWU
The Central Bank of Nigeria (CBN) has instructed all its branches to keep supplying various denominations of old and redesigned banknotes to deposit money banks. The CBN emphasizes that all the banknotes it has issued are still legal tender and should not be refused by anyone. This directive, as per a public statement released by the CBN on November 8, 2023, comes in response to cash shortages in some major cities despite earlier assurances of sufficient cash stocks across the country.
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