CBN Takes Decision On Old Naira Notes After Supreme Court Judgment

CBN has taken a decision on Old Naira Notes after the Supreme Court judgment.

Newsone reports that the Central Bank of Nigeria (CBN) said that both old naira notes and new naira notes are now legal tenders.

This online news platform understands that the Acting Director of Corporate Communications CBN, Dr. Isa Abdulmumin disclosed this on Tuesday, March 7, 2023.

The CBN Director affirmed that commercial banks have started issuing both old and new notes to their customers.

But insisted that the apex bank is yet to issue an official statement.

He said, “Banks are paying old notes as well as new notes. They are all legal tender.

“Yes, the CBN has not issued an official statement on the issue. Anyone banks give to you, you can collect. We just want to make life easy for Nigerians.”

The Supreme Court gave its verdict on the Naira redesign, directing the federal government to allow the validity of N200, N500, and N1000 notes till 31 December last week.

Newsone Nigeria reports that in response to the ruling on Monday some banks in Abuja, the nation’s capital, and Lagos, Nigeria’s commercial city, have started issuing the old notes to customers. But, traders, business owners, and motorists are not accepting the old notes.