Retail Outlets May Stop Accepting Old Naira Notes from Friday

Editor/

Retail outlets in the country, especially supermarkets, may no longer accept old N200, N500 and N1,000 notes as from Friday, January 27.

The development followed the directive to money deposit banks by the Central Bank of Nigeria to stop receiving the old notes as deposits from January 31.

NewsmakersNG learnt that some churches have also told their members they would stop accepting the old notes as offerings from Sunday, January 29, and urged them to consider paying their offerings online.

Already, a popular supermarket chain in Ibadan, Oyo State capital, Foodco, has issued a notice to its customers to this effect.

In the notice addressed to customers, today, the management of Foodco enjoined them to make payments with the new Naira notes or make use of the cashless payment options.

The notice reads, “In view of the recently implemented policy by the Central Bank Of Nigeria, Foodco Nigeria Ltd. will no longer accept the old 200, 500 & 1,000 Naira Notes effective January 27, 2023.

“Therefore, we encourage our beloved customers to make payments with the new Naira notes or make use of the cashless payment options available at all our outlets: POS Card Transactions and transfers.

“Thank you for your understanding and continued patronage.”