With only 8 working days left before they become worthless the Central Bank of Nigeria has authorized the direct exchange by financial institutions, and mobile money operators in rural areas of older 200, 500 and 1,000 naira notes for new ones.
Holders of amounts up to NGN10,000 (= USD22 at official rate, USD13 at the free market !!!) can receive new notes in exchange. Excess amounts are to be credited to an account. Those who do not already have any such account may open one on the spot. “Bank verification number”, “National identity number” and “Voter Card” details should be captured soon as possible.
Source: business day.ng.
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