Official: CBN unmasks, says old naira notes still legal tender - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

At last, the Central Bank of Nigeria (CBN) has unmasked to say that the old N200, N500 and N1000 notes remain legal tender until December 31, 2023, reports ITREALMS.

The acting CBN spokesperson, Dr. Isa Abdulmumin, made this known to 
ITREALMS in a press statement on Monday evening.

This came after the Presidency in a related statement denied any waiting game from Aso Rock, saying that there was no directive to CBN or Attorney General (AG) to disobey the latest ruling of the Supreme Court on the redesign of new Naira notes.

As said by Abdulmumin, “In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.”

“Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

“Consequently, all concerned are directed to conform accordingly.”