The Central Bank of Nigeria (CBN) has revealed that it did not order commercial banks to circulate old naira notes, affirming that it did not order the commercial banks to obey the order of the Supreme Court.
The spokesperson of the apex bank, Isa Abdulmumin, revealed this to newsmen, as the CBN did not release any official statement.
A source also 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.”
The Informant247 earlier reported that the supreme court ruled that the old N200, N500 and N1,000 notes should remain legal tender till December 31, 2023.
The apex court also condemned the naira redesign policy, and described it as an affront to the 1999 Constitution.
The apex court admitted that the cashless policy has made people adopt trade by barter in this new age in an attempt to survive.
The court described the disobedience of the president to the February 8 order of the court as a sign of dictatorship.
The people of Nigeria reacted to the new development on social media, as some praised the apex court while some others condemned the court.
