…Insists they remain legal tender
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–Pix(above): Old naira notes
The Central Bank of Nigeria (CBN) has reportedly approved the circulation and use of old N500 and N1000 along with the N200 notes earlier approved, in compliance with the Supreme Court order of last week which extended the use till December 31.
To that effect, the apex bank has ordered deposit money banks (DMBs) to start transaction of receipt and payment of the old currency in conjunction with new ones.

CBN’s spokesman, Dr Isa Abdulmumin, who spoke with The Cable on this, said it is wrong for citizens to reject the old notes against the backdrop of the Supreme Court’s ruling recently, noting that banks have already begun to issue the old and new notes conjunctively to customers at their various Automated Teller Machine (ATM) terminals as well as over the counter.
He said though the CBN was yet to issue an official statement on the matter, Nigerians can spend and receive the old and new notes in line with the apex Court’s ruling.
“Yes, the CBN has not issued an official statement on the matter, but anyone banks give to you, you can collect. We just want to make life easy for Nigerians,” he stressed.
Abdulmumin who expressed concern over continued rejection of the old notes by some traders and transporters, maintains that the old notes should not be rejected as they still remain legal tender./SHARE THIS
