Business
Finally, CBN breaks silence about old 500 and 1000 Naira notes
CBN has finally reacted to the Supreme Court judgment, saying both old and new Naira notes are now legal tender.
CBN’s Acting Director of Corporate Communications, Dr Isa Abdulmumin, disclosed this on Tuesday, March 7, National Daily reports.
According to the report, Isa affirmed that commercial banks have started issuing both the old and new notes to their customers, although the apex bank is yet issue an official statement.
According to him, “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 added that the old notes should not be rejected as they are still a valid means of exchange.
“No. They can’t reject it. It’s all legal tender,” he said.
Recall that last week the Supreme Court gave its verdict on Naira redesign, directing the federal government to allow the validity of N200, N500 and N1000 notes till 31 December.
-
Latest1 week agoIsrael marks 3 years since October 7 Hamas attack amid Gaza strikes, election debate
-
Energy1 week agoFuel Battle: Dangote, marketers and government clash over petrol imports
-
Latest2 days agoFull List: Meet the 2026 Nobel Prize winners across six categories
-
Latest1 week agoUS Court set to rule on release of FBI, DEA records on Tinubu
-
Featured6 days ago103 Million Voters: What does INEC’s new register say about Nigeria’s population?
-
Business1 week agoNigerian investors at a crossroads as fixed-income yields slide
-
Business1 week agoNigerian startup 3650HQ moves to cut rising WhatsApp costs for businesses
-
Latest1 week agoOyo APC crisis deepens as Oluyole reconciliation meeting ends in brawl