Business

CBN extends old naira notes’ validity indefinitely

Published

3 years ago

November 14, 2023

The Kingdom is Now at Your Fingertips: Unveiling the BetKing Android App In the fast-paced world of sports entertainment, every second counts. Whether you're a seasoned punter or a newcomer to the game, having the edge of accessibility and timeliness can make all the difference in winning with thousands or even millions of Naira. BetKing, a leader in sports and digital entertainment, has recognized this need and taken a significant step forward with the launch of its new Android app. With its app launch, the sports entertainment company is opening up unlimited access to all its exciting products and services in a one-stop platform for users to get the ultimate gaming experience. Here’s everything you need to know about the all-new BetKing app for Android users. Enhanced Security Online betting typically involves the disclosure of personal and financial information, as a result, security is paramount for bettors. The BetKing app offers enhanced security features that prioritize the safety of your data. Additionally, your smartphone's built-in security measures act as an additional barrier, ensuring that unauthorized users can't access your account. With the newly launched app, you can place your bets with confidence, knowing that your personal and financial information is well protected. Lightweight and Lightning-Fast User Experience One of the standout features of the BetKing app is its incredible user experience. The app is incredibly lightweight, occupying less than 10MB of your device's memory. This means you can download and install it quickly, without worrying about eating up your storage space. Another factor that truly sets the BetKing app apart is its processing speed. As you already know, with live betting, game events can change in the blink of an eye, and as such, every second is crucial. The BetKing app ensures that you have the speed you need to place bets effectively and respond to changes in real time. This added speed can be the key to securing your bets and increasing your chances of winning. Stay in the Know with Notifications The BetKing app takes user convenience to the next level with in-app notifications. You can now activate these notifications and stay up to date with the latest offers and features. This ensures you don't miss out on those lucrative betting odds. Whether it's a special promotion or a special offer for top-line matches, the in-app notification system will keep you informed, directly on your smartphone. Easy Feedback because Your Opinion Counts BetKing values its users' feedback. With the app, sharing your thoughts and suggestions has never been easier. If you're pleased or displeased with a specific feature or offer, the app offers a platform to make a review. Your feedback matters and it will be addressed promptly. This direct channel gives you the power to influence and improve your overall sports betting experience. Same Great Bonuses and Features If you're already familiar with BetKing's offerings, you'll be pleased to know that the Android app brings you the same amazing bonuses, features, and freebies that you love. You can still enjoy online sports betting, 300% ACCA Bonus, Virtual bets, Jackpot, FootballGO, and 600+ Casino markets, just as you would on the website. What's even more exciting is that the app introduces you new products and features like Flexicut and Free Bets. BetKing's commitment to innovation means you'll have access to even more ways to enhance your betting experience. Getting Started with the BetKing App Using the BetKing app is a breeze, and you can be on your way to winning big in just three simple steps: ● Open the Google Play Store on your Android device, search for "Betking – Sports Betting App" and download it, or use the direct link provided. ● Sign in and follow the app prompts to select your betting options. ● Make a deposit and start placing your bets to enjoy an unparalleled gaming experience. BetKing is committed to providing a top-tier entertainment platform for sports enthusiasts. The BetKing mobile app is accessible to all Android users, with exciting features, delivering exclusive promotions, seamless access, and enhanced security for users. For further details on the Mobile App Launch, visit www.betking.com. END

The Central Bank of Nigeria (CBN) has extended the validity of the old notes indefinitely.

The apex bank’s Director, Corporate Communications, Isa AbdulMumin, in a statement titled, “CBN to Allow Old Design Naira Banknotes as Legal Tender, Ad Infinitum” on Tuesday, said the decision is line with international best practices and to forestall a repeat of earlier experiences implementing the policy.

It would be recalled that the CBN had introduced the redesigned N200, N500 and N1.000 denominations in October 2022 and certain deadlines were set for the old design of these denominations to cease as legal tenders.

The statement read, “Without prejudice, the Central Bank of Nigeria wishes to inform the general public of its desire to extend the legal tender status deadline of the old design of N200, N500 and N1,000 denominations; ad infinitum.

“This is in line with international best practices and to forestall a repeat of earlier experiences.

“Thus, all banknotes issued by the Central Bank of Nigeria, in accordance with Section 20(5) of the CBN Act 2007, will continue to remain legal tender, ad infinitum. even beyond the initial December 31, 2023, deadline.

“The Central Bank of Nigeria is working with the relevant authorities to vacate the subsisting court ruling on the same subject.

“Accordingly, all CBN branches across the country will continue to issue and accept all denominations of Nigerian banknotes, old and redesigned, to and from deposit money banks.

“The general public is enjoined to continue to accept all Naira banknotes (old or redesigned) for day-to-day transactions and handle these banknotes with utmost care, to safeguard and protect the lifecycle of the banknotes.

“Also, the general public is encouraged to embrace alternative modes of payment, e-channels, for day-to-day transactions.”

The former CBN governor, Godwin Emefiele, in October 2022 announced the redesign of the old N200, N500 and N1,000 notes.

Emefiele, who announced the move at a media briefing in Abuja, gave January 31 as the deadline for the withdrawal of the old bank notes from circulation.

Following the hardship that accompanied the chaotic handling of the policy, the Supreme Court on March 3 extended the validity of the bank notes to December 31.