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.
-
Sports5 days agoSenegal opens Dakar 2026 Youth Olympic Games, Africa’s first Olympic event
-
Latest1 week agoTinubu endorses Nigeria’s participation in 2026 World Travel Market London
-
Football6 days agoU-17 Women’s World Cup: Flamingos Beat Mexico to Reach Quarter-Finals
-
Latest4 days agoFG Announces N50,000 cash support for vulnerable Nigerians under new relief programme
-
Business4 days agoNNPC’s N66-per-litre petrol discount set to end October 31
-
Latest4 days agoINEC recognises Pantami for Gombe, keeps Kano NDC candidate off final list
-
Latest5 days agoNetanyahu, Eisenkot face coalition deadlock as Israel struggles to form new government
-
Latest4 days agoNDC Chieftain tells Atiku to drop presidential ambition over son’s support for Tinubu