Banks to continue collecting old currency until after the full term - Emefiele.
Governor of the National Bank, CBN, Godwin Emefiele, says banks will continue collecting old naira currency after the exchange of new currency on 10 February.
On Sunday, the main bank has increased its pledge to cover the collecting of old papers of 1,000 and 500 Naira and N200, following complaints from Nigerians.
Except as Emefiele appeared before the House of Representatives on the new Naira exchange policy, and Naira exchange today Tuesday, the CBN chairman said banks will still collect old documents after the term.
Emefiele said that with consideration of Section 20, Section 3 of CBN Act 2007, even if the amount of old currency is full, CBN will continue to collect them.
Emefiele says commercial banks must collect the funds even after the February 10.
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