The Central Bank on Monday has directed all the Deposit Money Banks in Nigeria to obey Supreme court judgment of March 3, 2023 on old Naira notes.
This directive was contained in a statement by the Acting Director, Corporate Communications of the apex bank, Isa AbdulMumin. The statements reads:
“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 judgment of March 3, 2023.
“Accordingly, the CNN met with the Bankers’ Committee and has directed that the old #200, #500 and #1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.”
Consequently, all concerned are to conform accordingly.
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