Justice Inyang Okoro-led seven-man panel of the Supreme Court on Wednesday ruled that both the old and the new naira notes of N200, N500 and N1,000 remain valid legal tenders until further notice while ordering that the old and the redesigned naira notes should be in circulation beyond December 31, 2023. The apex court made…
The federal government, through the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has filed an application before the Supreme Court seeking an extension for old naira notes to remain in circulation. It would be recalled that the Supreme Court had, in March 2023, extended the deadline to phase out the…
The Central Bank of Nigeria on Tuesday maintained that the old N200, N500 and N1,000 notes remained legal tender indefinitely. Isa AbdulMumin, the apex bank’s Director, Corporate Communications, in a statement titled, “CBN To Allow Old Design Naira Banknotes As Legal Tender, Ad Infinitum”, said the decision is in line with international best practices and…
The Central Bank of Nigeria on Wednesday directed all its branches nationwide to continue issuing various denominations of both old and redesigned banknotes in ample quantities to deposit money banks. This was made known in a statement signed by its Director of Corporate Communications, Isa AbdulMumin, and posted on its X handle on Wednesday. This…
The Nigeria Labour Congress (NLC) has decided not to proceed with its planned nationwide strike over the scarcity of naira notes. The suspension of the nationwide strike was the resolution of the NLC’s national executive council meeting on Tuesday March 28. As earlier reported by The Informant247, the NLC has ordered all workers in the…
The Central Bank of Nigeria (CBN) revealed that it has sent substantial amount of banknotes to commercial banks across Nigeria. The CBN said this was one of the measures to facilitate the circulation of naira notes of various denominations. The apex bank also ordered all commercial banks to operate on Saturdays and Sundays. This was…
The Senior Advocate of Nigeria, Femi Falana has criticised the President Muhammadu-led Federal Government as one with a history of disobedience to orders of the court. Falana made this revelation while granting a television interview. He said, “It is very sad. I do hope that this outgoing government would comply with the judgement in totality.”…
A popular commercial bank, Unity Bank Plc has started obeying the order of the Central Bank of Nigeria, CBN, which mandates all commercial banks to accept old naira notes as legal tender till December 31, 2023. It was gathered that the 2 branches of the bank has begun complying with the order of the apex…
The Nigerian Bar Association (NBA), on Monday asked Nigerian president, Muhammadu Buhari to immediately direct compliance with the terms of the order by the Supreme Court in its judgement delivered on 3 March 2023 in respect of the naira redesign policy. This was contained in a statement by its president, Yakubu Maikyau (SAN). The statement…
The chieftain of the All Progressives Congress, APC, Femi Fani-Kayode has condemned the scarcity of naira notes across Nigeria. The former minister of aviation took to the micro blogging platform, Twitter on Saturday, March 11 to curse and abuse those at the Central Bank of Nigeria, CBN whom he accused for causing hardship and agony….
The Kogi State government has revealed its plan to shut any commercial bank, arrest and prosecute anyone that refuses to collect the old naira notes in the state. The state’s Commissioner for Information and Communications, Kingsley Femi Fanwo, made this revelation in a statement released on Friday March 10 in Lokoja, the capital of the…
A Senior Advocate of Nigeria (SAN), Rasheed Adegoke has said that President Muhammadu Buhari might be taken to court for not obeying the order of the Supreme Court over the cashless policy initiated by the Central Bank of Nigeria, CBN. The cashless policy has been criticised by many people due to the inconvenience and pain…
The Governor of Ondo State, Rotimi Akeredolu has condemned the manner many traders and business persons were rejecting the old naira notes in the state. The Governor revealed that the rejection of the old naira notes, N200, N500 and N1,000 will cause needless hardship and agony on the people of the state. He made this…
Following the Supreme Court judgement, some commercial banks have started issuing out old N500 and N1000 notes to their customers. It was gathered that at least three banks in Abuja, issued out old N500 and N1000 notes to customers in Abuja on Monday while a bank in Kano also did the same. According to Daily…
Godwin Emefiele, the Central Bank of Nigeria (CBN) Governor has assured Nigerians that they won’t lose the old naira notes after February 10 extended deadline. Emefiele disclosed this while appearing before the House of Representatives ad hoc Committee on Tuesday after several calls by the lawmakers to explain the decision of the apex bank towards…
