The Automatic teller machines (ATMs) across the country are still dispensing old N1,000 and N500 notes, just four weeks before the deadline set by the central bank of Nigeria.
In October 2022 the CBN announced the redesign of N200, N500, and N1,000 notes in a bid to curb currency counterfeiting and take control of the currency in circulation in the country to curb inflation.
The Central bank’s Governor, Godwin Emefiele, said the new and existing naira notes will remain legal tender and circulate together until January 31, 2023, when the existing currencies shall seize to be legal tender.
many Nigerians have complained that most ATMs around are still dispensing old notes, with just less than four weeks to the deadline of the policy.
CBN designed this policy to curb inflation caused by high money in circulation in the country.