By Ola ‘Kiya, Reporting
BARELY four days after, the Central Bank of Nigeria (CBN) has aligned with the last Friday’s judgement of the Supreme Court of Nigeria that old and new Naira notes be used as legal tender concurrently till December 31, 2023.
Nigerians have been enmeshed in existential threats since January following the back and forth characterising the new CBN naira redesign policy.
Though the CBN has not issued any statement officially, the clarification came from a media interview with the CBN spokesperson, Isa Abdulmumin.
He said both the old and new Naira notes are legal tender and banks are currently issuing them to customers.
“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,” he quipped.
While expressing concern on the continued rejection of the old notes by some traders and transporters, he made it clear that in line with the Supreme Court judgement, the old notes should not be rejected as they are still a valid means of exchange.
Checks in parts of Lagos, Delta and Ibadan showed that many commercial banks have started dispensing available old N500 and N1,000 in their vaults.
What's your reaction?
