Jelili Gbadamosi
The Central Bank of Nigeria, CBN, on Monday break the silence and says that the Old N200, N500, and N1000 banknotes remained legal tender till Dec 31.
The CBN gave the directive at a Bankers’ Committee meeting held on Sunday, according to a statement by the acting Director, of CBN Corporate Communications, Isa AbdulMumin, on Monday.
This is coming hours after the Presidency on Monday evening said the CBN had no reason not to comply with the ruling of the Supreme Court on the naira redesign policy.
The statement partly read, “In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3.
“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.
“Consequently, all concerned are directed to conform accordingly,” the statement read.
Press Club MAPOLY reported that the supreme court on March 3, ordered that old N200, N500, and N1000 notes should remain valid till December 31.
