The Central Bank of Nigeria (CBN) has said the old Naira banknotes will henceforth remain legal “ad infinitum ”. CBN’s Director, Corporate Communications Department, Isa AbdulMumin, said this in a statement on Tuesday in Abuja. It would be recall that the CBN had introduced redesigned N200,...
Old naira notes
Long queues at commercial banks in Lagos have suddenly disappeared following the injection of more bank notes by the Central Bank of Nigeria (CBN) into commercial banks, the News Agency of Nigeria (NAN) has reported The apex bank had on Thursday confirmed the evacuation of bank notes from its...
In compliance with the Central Bank of Nigeria’s (CBN) directive, most Deposit Money Banks (DMB) branches in Kubwa opened for operations on Saturday. Checks by the News Agency of Nigeria (NAN) saw huge crowd of customers, with bank officials making efforts to meet their cash needs. The banks were,...
Banks in satellite towns of the Federal Capital Territory (FCT), on Saturday opened for business as directed by the Central Bank of Nigeria (CBN). The News Agency of Nigeria (NAN) correspondent who monitored some banks in the Territory, reports that huge crowds of customers were seen at banks’ Automated...
By EZEKIEL OBI, Abuja – The Central Bank of Nigeria (CBN), has confirmed the evacuation of banknotes from its vaults to commercial banks across the country. This is contained in a statement issued by Dr Isa AbdulMumin, the Acting Director, Corporate Communications of the CBN. He said the move...
Some residents of the Federal Capital Territory (FCT) have called on the Central Bank of Nigeria (CBN) to release more banknotes to money deposit banks to ease hardship. The residents told the News Agency of Nigeria (NAN) on Thursday in Abuja that improvement had not been seen in terms...
Some traders in various markets in the satellite towns of the FCT are still skeptical about collecting the old Naira notes in spite of Central Bank Nigeria’s (CBN) directive. Some of the traders who spoke to the News Agency of Nigeria (NAN) at Karu, Nyanya, and Mararaba Markets on...
Lagos State residents on Tuesday began to accept the old N200, N500 and N1,000 banknotes for transactions, following a validation from the Central Bank of Nigeria (CBN) to do so. The News Agency of Nigeria (NAN) reports that the CBN in a statement signed by its acting Director, Corporate...
Gov. Bello Matawalle of Zamfara said the Central Bank of Nigeria (CBN)’s compliance with the Supreme Court Order on old currency notes was a victory for Nigerians. Matawalle stated this in a statement issued by Malam Zailani Bappa, hisSpecial Adviser, Public Enlightenment, Media and Communications in Gusau on Monday....
By JOY ADARA, Abuja – The Central Bank of Nigeria (CBN) has declared the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till Dec. 31, 2023. The CBN Acting Director, Corporate Communications, Alhaji lsa AbdulMumin, who disclosed this in a statement issued on Monday,...
The Central Bank of Nigeria (CBN), on Monday, said that the old N200, N500 and N1,000 banknotes remain legal tender till Dec. 31. According to a statement by Isa AbdulMumin, CBN’s Acting Director, Corporate Communications, this is in compliance with the March 3 judgment of the Supreme Court. The...
By DAVID IORJA, Abuja – The Presidency on Monday said it never directed the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele and the Attorney-General of the Federation, Abubakar Malami, not to comply with the ruling of the Supreme Court on the naira redesign policy. The president’s spokesman,...
By OLA MUDOPE, Osogbo – Osun State Governor, Ademola Adeleke has warned commercial banks in the state to stop issuing old naira notes to customers, if they will not accept it back as deposits. Governor Adeleke gave the warning in a statement issued by his spokesperson, Malam Olawale Rasheed,...
By BARBARA KALU, Umuahia – The Abia Government says it will sanction any person, group or business entity that rejects the old 500 and 1,000 naira notes for business transactions. The threat is contained in a statement issued by the Secretary to the State Government, Mr Chris Ezem, and...
Some Nigerians have expressed regrets for collecting the old N500 and N1,000 notes from commercial banks, after the Supreme Court judgment validating it as legal tender till Dec. 31. They told the News Agency of Nigeria (NAN) in separate interviews that it had been challenging spending the two old...
By OJOMA PETER, Lokoja – Kogi State Governor, Yahaya Bello has threatened to arrest and prosecute those rejecting the old Naira notes. The governor stated this in a statement issued by Bello’s Commissioner for Information and Communications, Mr Kingsley Fanwo in Lokoja. It would be recall that the Supreme...
A Constitutional Lawyer, Mr Kayode Ajulo, has said that any attempt by the Central Bank of Nigeria (CBN) to disobey the Supreme Court judgment on the legality of the old N200, N500 and N1,000 will amount to a treasonable felony. Ajulo told the News Agency of Nigeria (NAN) in...
Commercial banks in the Federal Capital Territory (FCT), have started issuing the old Naira notes to customers. The News Agency of Nigeria (NAN) checks at some banks in Abuja on Wednesday, revealed that customers thronged banks to collect the notes while some rejected them. Mr Ifeanyi Udenna, a customer...
The Central Bank of Nigeria (CBN) has been warned against the consequences of disregarding the Supreme Court’s judgment directing that the old naira notes should co-exist with the new one until Dec. 31. Mr Seun Abimbola, a former Attorney-General and Commissioner for Justice in Oyo State, gave the warning...
Some traders and marketers in Lagos have said they would accept the old denominated naira notes of N500 and N1,000, only when President Muhammadu Buhari gives the order. The people told the News Agency of Nigeria (NAN) in separate interviews that they were being careful and at the same...