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Big churches, schools refused old banknotes for delivery, payment.

Ahead of January 31, when the Reserve Bank of Nigeria is due to write off the N1000, N500 and N200 banknotes, several major churches, schools and retailers have set deadlines for returning the old currency.

This happened when several commercial banks closed ATMs in Lagos, Abuja and other states across the country due to a shortage of old naira banknotes. Custodians have been hit by a shortage of old banknotes due to CBN’s policy of only allowing lenders to load new banknotes into ATMs and preventing customers from making over-the-counter payments in the new currency.

But reports suggest that many major churches, schools and retailers have extended deadlines for accepting old banknotes due to long queues at banks across the country.

This is expected to relieve organizations of the burden and hassle of exchanging old Naira banknotes for new ones. The Ministry of Deep Christian Life, a well-known Pentecostal church, has issued a memorandum directing church leaders to stop collecting naira lama banknotes by January 29, 2023, about two days before the January 31 deadline set by CBN.

The letter, a copy of which has been received, contains information from the Secretary of the Ministry of Deeper Christian Life, H.M. Afuwape. An internal memo titled “Old Naira Notes Sent” reads: “Greetings from Calvary in the name of the Lord Jesus Christ. The Central Bank of Nigeria hereby informs you that N200 is due by January 31, 2023. N1000 banknotes.

Churches are encouraged to instruct members and brethren to turn in all tithes and offerings collected by the group by January 29, 2023. 2023. 29. For this purpose, all old vouchers (appointments) brought to the head office but not deposited with the bank will be returned. when paying for a group. Thank you for your understanding and cooperation.”

The Redeemed Christian Church of God has also instructed members in various provinces to deposit their old bank accounts by January 26, approximately five days before the CBN deadline.

It has been learned that church members have no other choice but to how to use your offerings and tithes as church offerings.

A minister from one of the RCCG provinces in Ota, Ogun Province, is advising members of the WhatsApp platform to put old money in a bank or agent to sell it before the January 31 deadline.

The following is part of the notice. The old deadline for banknotes is Thursday, January 26, 2023.”

However, he could not confirm that the letter was officially from the RCCG.

Banks in Sango Ota are also overwhelmed as customers have trouble depositing old bills, and banks and ATMs such as FBN, Fidelity and UBA issue old bills days before the due date.

Commenting on these developments, RCCG spokesman Pastor Olaitan Olubiyi said: “There is no official delay in the use of the new Naira banknote.

People should do what the government requires of them. They should be able to take old banknotes to the bank.

We believe that God will help the Central Bank, as there are no new banknotes in circulation yet. But until the January 31 deadline, anything is possible.

“We haven’t come up with an explanation yet, but you can trust that everyone briefed the members on the previous entry.

Not only to go to church on Sundays, but also so that our church members do not suffer unnecessarily.

The Lagos-based New Covenant Mission Pentecostal Church also advises its members to turn in old notes before the CBN deadline.
Similarly, the results show that the administration of some elementary and middle schools has stopped collecting old records.

As a result, they notified parents to only deposit new accounts with all cash transactions at the school.

In a message to parents, the director of RCCG’s Christ the Redeemer Kindergarten and Primary School said, “This is the new age, so I should only accept bills.” In addition, one school, Gemstars Schools, said in a parent memo: Thursday, January 26, 2023 All payments must be made in the new currency via bank transfer or in cash so that the school can liquidate and exchange the old currency that we still manage.” .

Royal Champion School, a school in Ogun, also asked parents to submit only new certificates to the school, saying that the collection of existing certificates was stopped from the 10th.

Part of the notice reads: “As per CBN policy, the school will stop collecting previous grades for N200, N500, and N1000 on Thursday, January 26th. Cash payments to schools after this date can only be made with a new high school diploma. Thank you. We ask for your understanding and cooperation.” ‘

Retailers Similar to known cash transactions, retailers have informed customers that they have decided to stop collecting old invoices. Leading e-commerce platform Jumia has announced that as of Monday, January 30, 2023, it will no longer accept old Naira banknotes as payment for items purchased on its platform.

In a message to customers on Thursday, the company said, “From Monday, January 30, 2023, Jumia Delivery Associates will no longer accept the old N200, N500 and N1000 banknotes, which is a continuation of the policy of the Central Bank of Nigeria.” If you want to pay in cash, our courier only accepted a new set of banknotes.”



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