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JUST IN: Jubilation As CBN Finally Tells Nigerians What To With Old Naira Notes

Jubilation As CBN Finally Tells Nigerians What To With Old Naira Notes

The acting Director of Corporate Communications of the Central Bank of Nigeria, Dr Isa Abdulmumin, on Tuesday revealed that both old and new notes are now legal tender.

He confirmed that commercial banks have begun issuing both old and new notes to their clients.

However, he insisted that the Central Bank has yet to issue an official statement.

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

Old Naira Notes

“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.”

Naija News House earlier reported that the Nigerian Supreme Court ruled on the naira redesign, directing the Nigerian government to allow the validity of N200, N500, and N1000 notes until December 31.

It was also learned on Monday that some banks nationwide began issuing the old Naira notes to customers in response to the ruling.

But traders, business owners and motorists are not accepting the old notes causing confusion among the populace who insisted that the notes were issued by the banks and should not be rejected.

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