Adedokun Waliyu 
The Central Bank of Nigeria has ordered banks across the country to start collecting the old N500 and N1,000 notes from members of the public who want to deposit them with immediate effect.
The CBN, however, maintained that the old currencies were still no more legal tender, adding that the maximum amount the banks can collect from individuals is N500,000.
Those with higher amounts would still have to visit the CBN to deposit their old notes.
The Director of Corporate Communications, Osita Nwanisobi, exclusively disclosed this in an interview on Friday.
He said, “The Central Bank has directed all Commercial banks to start collecting old N500, and N1000 notes from customers with immediate effect. It applies to customers swapping N500,000 and below only”.
On Thursday, the CBN Governor, Godwin Emefiele, ordered the banks to make the old N200 notes available to Nigerians.
