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CBN orders banks to collect old N500, N1,000 notes

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The Central Bank of Nigeria has ordered banks to start collecting the old N500 and N1,000 notes from the public with immediate effect.
It, however, pegged the maximum amount the banks can collect at N500,000.

The CBN maintained that the old currencies were no more legal tender.

A source from the bank said the CBN ordered the banks to collect the monies instead of going to the CBN office following difficulties encountered in getting access to the bank.

A CBN official said, “Go to your bank but fill out the form before you go. Go with the reference code you generate. With your code, banks will collect it from you. But if it is more than 500,000, you will go to the CBN and deposit it.”

Earlier, the CBN opened a portal on its website and made it mandatory for those willing to return old notes to fill and generate a code.

On Thursday, the CBN Governor, Godwin Emefiele, ordered the banks to make the old N200 notes available to Nigerians.

This was after the President, Major General Muhammadu Buhari (retd.), said the old N200 note would be legal tender till April 10, 2023, while urging Nigerians to deposit their old N500 and 1000 notes with the CBN.

However, protests which had been rocking different states over the scarcity of the new naira notes made the CBN order banks to collect higher denominations after meeting with banks’ leaders.

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“Go and Verify”: How Sunday Umeha Is Redefining Representation in Ezeagu/Udi

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Rt. Hon. Barr. Sunday Cyriacus Umeha has continued to distinguish himself not only as a grassroots politician but as a sound parliamentarian who clearly understands the true essence of legislative representation and public service.

Since emerging as the Member representing Ezeagu/Udi Federal Constituency in the House of Representatives, Umeha has consistently demonstrated capacity, vision, and commitment both on the floor of the National Assembly and within his constituency.

Unlike many politicians whose promises disappear after elections, Rt. Hon. Umeha has steadily transformed his campaign mantra, “Go and Verify,” into practical realities visible across communities in Ezeagu and Udi Federal Constituency.

From road construction to solar-powered streetlights, classroom projects, healthcare interventions, agricultural empowerment, scholarships, boreholes, and youth development programmes, his stewardship has remained rooted in service delivery and measurable impact.

Observers say one of the strongest qualities that separates Umeha from many lawmakers is his deep understanding of parliamentary responsibilities. Through strategic bills and motions, he has continued to show that representation goes beyond rhetoric and political appearances.

Among several notable legislative efforts, he sponsored bills seeking the establishment of a Federal College of Entrepreneurship and Skill Acquisition in Ezeagu/Udi Federal Constituency, reforms in the education sector through the abolition of levies in public basic schools, mandatory insurance protection for NYSC members, and the establishment of a National Football Academy.

He also sponsored motions addressing critical national concerns, including the investigation into the gruesome killing of Nigerians by soldiers in Enugu State and the urgent completion of the Karshi/Apo Road project in Abuja to ease traffic congestion.

Political analysts note that these interventions reflect a lawmaker who understands that effective representation must combine constituency development with strong legislative advocacy.

Many constituents equally commend him for remaining faithful to the promises he made during his campaigns. Across the constituency, residents point to completed and ongoing projects as evidence that the lawmaker has not reneged on his commitments to the people.

Beyond governance and legislative duties, Rt. Hon. Umeha also played significant roles in efforts aimed at restoring sanity, stability, and internal cohesion within the Labour Party before his eventual defection to the APC.

Sources within the political space in Enugu State revealed that Umeha consistently pushed for peace, unity, and institutional order within the party during periods of internal crisis and leadership disagreements. His interventions were said to be driven by the desire to protect the interests of party members and preserve the integrity of the platform.

However, following prolonged internal challenges and unresolved structural issues within the Labour Party, the federal lawmaker eventually moved to the All Progressives Congress (APC), a decision many political observers described as strategic and inevitable.

Despite the political transition, supporters insist that his focus has remained unchanged — delivering quality representation, empowering constituents, and sustaining developmental projects across Ezeagu/Udi Federal Constituency.

For many residents, Rt. Hon. Barr. Sunday Cyriacus Umeha represents a rare blend of grassroots leadership, legislative competence, humility, and political responsibility.

And across the constituency, the verdict from many communities remains simple:

“He promised, and he delivered.”

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