The Central Bank of Nigeria (CBN) issued an order for banks to immediately begin collecting the old N500 and N1,000 notes from Nigerians as demonstrations against the cash swap scheme gained traction in some regions of the country.

Yet it set the maximum amount that banks might take in at N500,000.

The CBN insisted that the previous notes were no longer valid forms of payment.
According to a CBN source who spoke to The Nation, inability to access the bank made it essential to issue a directive that banks collect the funds instead of coming to the CBN office.

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https://gistreportar.com/breaking-cbn-orders-banks-to-accept-old-n500-n1000-notes/

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