THE Central Bank of Nigeria (CBN) says it has not issued a fresh directive to commercial banks on last Friday’s judgment of the Supreme Court ordering the circulation of the old naira notes alongside the new ones until December 31.
A seven-member panel of justices presided over by Justice Inyang Okoro had described as unconstitutional, President Muhammadu Buhari’s directive to the CBN for the redesigning and withdrawal of old notes of N200, N500 and N1,000, without consultation with the states, Federal Executive Council, the National Council of States, and other stakeholders.
A senior management source who spoke to Daily Trust said: “Both the old and new notes are legal tender, and banks are currently issuing them to customers. Nigerians should not reject any note, whether old or new.”
