*BREAKING NEWS*


*CBN FIRES WARNING SHOTS*


The Central Bank of Nigeria (CBN) has directed all banks in the country that individuals can only deposit N5 million for a new account and N50 million for an old account in one month.

The directive, which was issued by CBN Director of Currency, Ahmed B. Umar, was a fallout of the planned new redesigned Naira which takes effect next month.

According to Umar, individuals will not be allowed to deposit more than N5 million if the transaction involves a new account in one Month.

According to him, any  transaction that involves an old account, then only a maximum of N50 million will be allowed.

He also warned that those with multiple accounts will be monitored via the Bank Verification Number (BVN).
This means that folks who hoarded large sums of money running into billions of Naira stand a chance to lose their wealth.

It could be recalled that CBN recently announced a plan by the Federal Government of Nigeria to redesign the various denominations of the Naira ranging from N200, N500 and N1,000 respectively.






ADDITIONAL INFORMATION ON NEW NAIRA BANK NOTES

1. Banks must only accept cash from customers with full KYC and bank accounts.

2. Cash must only be paid into customers accounts. Cash must not be paid into ledgers or suspense accounts

3. CBN and EFCC will be tracking all deposits.

4. Old currency will become useless on the 31st of January 2023.

5. It’s an opportunity to leverage on our branch network to drive funding of accounts.

6. It will drive digital adoption and opening of new accounts.

7. CBN will no longer print large quantities of Cash. New cashless policy to be announced in January

8. Banks that receive cash from non-account holders or customers will be penalised by CBN and EFCC

9. CBN will change the current N200, N500 and N1,000 currency denominations to a new currency.

10. Everyone should start paying the old currency notes into the bank effective immediately.

11. The new currency notes will go into circulation on December 15th, 2022.

12. Collection of the old notes will stop on January 31st, 2023.

13. The old notes would stop being a legal tender by January 31st, 2023.

14. Banks are advised to keep all their deposit centres open from Monday to Saturday going forward for collections.

https://www.youtube.com/watch?v=-bHYOp9aMH8
Most of these politicians are the ones fighting Peter Obi for saving money.They claim there's no money but they have so much stashed away