CBN directs banks to receive, dispense old N500, N1000 notes
The Central Bank of Nigeria on Monday directed commercial banks to dispense and receive old naira notes as legal tender across Nigeria.
A statement by the Acting Director, CBN Corporate Communications, Isa AbdulMumin, said that the CBN gave the directive at a Bankers’ Committee meeting.
The CBN made its position known hours after the presidency said that the CBN had no reason not to comply with the order of the Supreme Court on the naira redesign policy.
Earlier on Monday, a statement by presidential spokesperson, Garba Shehu had said that President Muhammadu Buhari did not instruct the CBN governor, Godwin Emefiele, and the Attorney-General of the Federation, Abubakar Malami, to disobey any court orders involving the government and other parties.
In recent weeks, many Nigerians have had to face difficulties at banks and ATM points due to scarcity of the naira notes.
Details shortly…
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The Central Bank of Nigeria on Monday directed commercial banks to dispense and receive old naira notes as legal tender across Nigeria.
A statement by the Acting Director, CBN Corporate Communications, Isa AbdulMumin, said that the CBN gave the directive at a Bankers’ Committee meeting.
The CBN made its position known hours after the presidency said that the CBN had no reason not to comply with the order of the Supreme Court on the naira redesign policy.
Earlier on Monday, a statement by presidential spokesperson, Garba Shehu had said that President Muhammadu Buhari did not instruct the CBN governor, Godwin Emefiele, and the Attorney-General of the Federation, Abubakar Malami, to disobey any court orders involving the government and other parties.
In recent weeks, many Nigerians have had to face difficulties at banks and ATM points due to scarcity of the naira notes.
Details shortly…
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Call Willie – +2348098788999
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