Is old naira note still in use

2023 - 3 - 16

Post cover — Image courtesy of "TheCable"

Banks, businesses comply with CBN's directive on old notes — but ... (TheCable)

Commercial banks in Lagos have started disbursing the old naira notes to customers at their various automated teller machines (ATMs) terminals and over the ...

As we speak, we don’t also know if it will release the old notes to banks again but the truth is banks don’t have much of these old notes in their vaults. “We don’t know if the CBN has destroyed the old notes in its custody or not. Yesterday, customers were able to withdraw N20,000, from the bank’s ATM. Most businesses in Ikorodu have also started transacting with the old notes. “Yes, I heard that the CBN has directed that we should start to spend and accept the old notes but what about the people in the villages? “I have some of the old notes before but nobody agreed to collect them from me,” he said. “I am waiting for other traders in the market to start collecting or accepting the old notes before I will collect from my customers.” A visit to branches of Access Bank and Wema Bank in Ebute Metta, Lagos, also showed that the banks had started dispensing the old notes over the counter and via ATMs. A student, who simply identified as Kunle, said some traders in Fagba, Lagos, were yet to fully embrace the acceptance of the old notes as legal tender. But some traders are still sceptical about collecting the old naira notes in spite of the CBN’s directive. The banks were also observed to be accepting deposits of the notes — a development which is in compliance with the latest directive of the Central Bank of Nigeria (CBN) on the naira redesign policy. Commercial banks in Lagos have started disbursing the old naira notes to customers at their various automated teller machines (ATMs) terminals and over the counter.

Old Naira notes: Business operators in Edo, Delta, Bayelsa, happy ... (Daily Nigerian)

The Supreme Court had on March 3 in its judgment, extended the legal tender status of the old N200, N500 and N1,000 notes until Dec. 31. Thereafter, the apex ...

“I learnt that some people are not accepting the old money. According to him, the time frame should be such that it will be enough to print more of the redesigned Naira notes before they can recall the old notes. “This is good, let us pray that the cash will start circulating around and things will bounce back to normal by end of the month.” Udensi said “It is a good thing because it is going to ease a lot of the cash problems as everyone will begin to heave a sigh of relief. The News Agency of Nigeria reports that relief came the way of the people as CBN on Monday directed commercial banks to dispense and receive the old N200, N500, N1000 bank notes, saying that the notes remain legal tender until Dec. As the search for cash to meet daily needs continued, governors of Edo, Delta and Bayelsa issued statements at different times appealing to business operators to accept the old notes as legal tender.

Naira redesign: Banks, businesses commence collection of old ... (NIGERIAN TRIBUNE)

Banks, filling stations, petty traders and commercial bus drivers in Anambra State have started accepting the old N1000 and N500 notes.

On her part, a petty trader, Mrs. In his reaction, a commercial bus driver, Mr. Commenting on the development, a bank customer, Mr.

Use of old naira notes gradually returns in Cross River (Pulse Nigeria)

The use of the old naira notes is gradually returning in Cross River, following the Central Bank of Nigeria's (CBN) directive to deposit banks to issue and ...

“I had to confirm first before accepting the old notes because of the doubts arising from the inconsistencies in the pronouncements by the Presidency, CBN and Supreme Court about the new and old notes. The use of the old naira notes is gradually returning in Cross River, following the Central Bank of Nigeria’s (CBN) directive to deposit banks to issue and receive the old notes. It would be recalled that on Friday, the Supreme Court extended the validity of the old naira notes to December 31.

Naira notes: Di pains and gains of naira scarcity - Traders tok how ... (BBC News)

Some traders still dey struggle wit doing dia business sake of despite di reversal of di old naira note policy by di Central Bank of Nigeria (CBN).

She say di trekking no good for her health sake of say she dey manage hypertension. She say di reason why she dey buy di cash na so she fit pay transport and buy small tins wey she need. She say since dis scarcity of cash start for di kontri her sales don drop. For Joke, one of di tins wey dey frustrate her for di transfer issue na di poor network. She say she dey carry di POS receipts everywhere she dey go. One female trader for di popular Balogun market for Lagos, wey di scarcity of naira notes don affecy say her POS receipts na her cash.

So This Happened (201) reviews CBN order on old naira notes ... (The Punch)

We also reviewed the dismissal of 18 female prison guards for having illicit sexual affairs and hooking up with male inmates at a cell in Britain. Related News.

Naira Redesign: Mixed reactions trail CBN's directive as banks ... (Premium Times)

The CBN policy caused widespread chaos across the nation, as frustrated Nigerians staged protests amid poor banking operations.

The problem is not even to collect but to deposit back is a serious matter,” he said. He said: “I know that the CBN has made the old note a legal tender, some people are collecting it now, while some are still not collecting. “We had to join some of our people who have cars. Now we pray the money circulates so well so sales can pick up again,” he said. In Ogba, Lagos State, PREMIUM TIMES found that many traders are not accepting the old notes. The queue is gradually reducing,” says Mkpooto, a resident of the city. Speaking with PREMIUM TIMES, Nkiruka Romanus, a foodstuff seller in Olojudo market, Ido Ekiti in Ekiti State, quipped: “This is a major relief for everyone now. So what’s the need of collecting it.” However, both President Muhammadu Buhari and CBN Governor Godwin Emefiele refused to comply with the court order. The apex bank had on Monday announced that the old and newly redesigned banknotes remain legal tender until 31 December. “We do not have sufficient supply so I doubt there will be better circulation of money this week. We will wait for the CBN to supply us,” he said.