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Official; Old Naira Notes Remains Legal Tender-Godwin Emefiele.



Photo Credit| Central Bank Of Nigeria

The Governor of the central bank of Nigeria CBN, Godwin Emefiele has finally given a go head order to commercial banks across the country to start the issuance and reception of the old naira notes.

Godwin Emefiele gave this directives on Sunday during the Banker’s committee meeting, and was officially announced on Monday night by the CBN’s director of communications Isa Abdulmumin.

In an official circular from CBN made available to DAILYNEWSLINK directed all commercial banks across to immediately adhere to the directives of the CBN governor with immediate effect and start disbursements of money to their various customers.

According to Isa Abdulmumin, the directive is in total compliance to the Supreme Court ruling on 3rd March which ordered that both the old one and new currency should be circulated to 31st December 2023.

Read More:CBN Have Ordered Banks To Dispense And Accept Old Naira Notes -Soludo

CBN Official Statement Reads

200, 500 And 1000 Notes Remains Legal Tender Till December 3, 2023

In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle , the Central Bank of Nigeria (CBN), have been directed to comply with the Supreme Court ruling of March 3, 2023.

Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.Consequently, all concerned are directed to conform accordingly.

Isa AbdulMuminActing Director of communication, CBN.

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