CBN on old Naira notes

Ekiti State Governor, Mr. Biodun Oyebanji, has threatened to arrest and prosecute traders and service providers who reject the old denominations of N500 and ...

A statement signed by the state Commissioner for Information, Orientation and Strategy, Hon. In a statement issued by his Special Adviser on Media, Mr. This is as the Bayelsa State Government on Saturday called for calm, following the pains of residents of the state due to the implementation of the Central Bank of Nigeria (CBN) naira redesign policy and the Supreme Court ruling on the old N200, N500 and N1000 currency notes.

The Bayelsa State Government has said that based on the Supreme Court ruling of March 3, the old naira notes of N500 and N1,000 will remain legal tender in ...

"The government also calls on the CBN to take immediate steps to ease the burden of doing business in the state by making implementation of the policy less cumbersome," he said. Reacting to the protest by citizens and other Nigerians doing business in the state due to the suffering occasioned by the naira redesign policy of the federal government, the state government urged banks and business owners to obey the apex court ruling to ease the pains from Nigerians living in the state "The Bayelsa State Government understands the pains of residents of the state following the implementation of the Central Bank of Nigeria's (CBN) naira redesign policy and the Supreme Court ruling on the old currency notes.

Since di Supreme Court one week ago order di federal goment of Nigeria to extend di use of di old currencies of 500 and 1,000 as legal tender till 31 December ...

Third, be say, dis govnors no get constitutional power to instruct di pipo on wetin go be legal tender. CBN name no dey mentioned for di case. Meaning say na di president court give order. Di tin be say, for di case wey three APC govnors of Kaduna, Zamfara and Kogi state carry go court, dem make di case to be between di federal goment and di state goments. Di oda one na say some of dis business like di banks wey dem dey threaten to close, no get power to decide at branch levels say dem wan transact wit old notes becos dem dey under a federal regulator wey be di Central Bank of Nigeria (CBN). First, di pipo wey di govnors dey appeal to - banks, filling stations, and eateries - to obey di law, say no be dem di Supreme Court give order to resume di use of old currency, di court order na to federal goment.

New Telegraph reports that several reports suggested that the apex bank had approved the recirculation of old naira notes till December 31, 2023, as some ...

The Supreme Court had in a unanimous decision by a seven-member panel of justices on Friday, held that the old banknotes should remain in use until the end of the year. New Telegraph reports that several reports suggested that the apex bank had approved the recirculation of old naira notes till December 31, 2023, as some commercial banks on Wednesday started re-issuing the old naira notes into the system across the country. After weeks of silence following the Supreme Court ruling, the Central Bank of Nigeria (CBN) has said that it did not approve the recirculation of old N500 and N1000 notes.

Stories by Tunde Oso. Over a week after the Supreme Court ordered the Central Bank of Nigeria to allow the old N200, N500 and N1,000 banknotes to remain ...

Another PoS operator agonised: “Currently, there is no cash anywhere and the only way we can do business is to transfer to peoples account or do other cashless transactions using the PoS. Another customer, Wahab Leke, when interviewed talked about his business that have been shutdown because he can’t buy anything from the market or do any transactions, said; “People are now sleeping in front of banks. Another way we get cash instead of using banks is if an individual brings cash and sell to us.