The Central Bank of Nigeria (CBN) Tuesday said 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.
The CBN spokesperson, Isa Abdulmumin, who spoke to newsmen, said the apex bank has not issued an official statement.
President Muhammadu Buhari’s directive to the CBN to redesign and withdraw old notes of N200, N500, and N1,000, without consultation with the states, Federal Executive Council, National Council of States, and other stakeholders, was deemed unconstitutional by a seven-member panel of justices presided over by Justice Inyang Okoro.
The Quest Times reports that there was confusion among commercial banks and business operators following the non-issuance of a directive by the CBN on receiving the old N500 and N1000 notes.
However, a senior management staff of a commercial bank source who spoke to QUEST TIMES 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.”