CBN sets deadline for retrieval of N7.9 trillion bad notes

, Magazine

The Central bank of Nigeria (CBN) has disclosed that all Deposit Money Banks (DMBs) have till September 2, 2019, as the deadline for the collection and sorting of all mutilated naira notes (bad notes) in their possession.

In April, the CBN introduced a Clean Note Policy to put an end to the circulation of mutilated, defaced, and unfit naira notes, detailing several sanctions to be meted on defaulting banks and the general public. f