THE three-month deadline set by the Central Bank of Nigeria (CBN) for bank customers to deposit dirty naira notes in their banks will elapse at the close of business today.
The CBN had disclosed that a large proportion of the N7.9 trillion pieces of naira notes in circulation are dirty, mutilated and unfit for Automated Teller Machines (ATMs) and over-the-counter payments.
The regulator therefore, directed Nigerians to deposit mutilated Naira notes in any bank branch closer to them.
It said the exercise was part of its efforts to improve the overall quality of the Naira notes in circulation.
Meanwhile, many banks have continued to sensitise their customers on the need to comply with the directive.
In an emailed note to customers, GTBank said: “As part of its efforts to improve the overall quality of the Naira notes in circulation, the CBN has introduced the Clean Note Policy and Banknotes Fitness Guidelines. What does this mean for you?
“If you have in your possession, overused or mutilated Naira notes, you are required by the Central Bank of Nigeria (CBN) Clean Note Policy to deposit such notes at any branch near you on or before Monday, September 2, 2019″.