Nigeria Central Bank Reverses Order on Old Banknotes PremiumTimesng: Nigeria
The Central Bank of Nigeria on Monday directed commercial banks to dispense and receive the old N200, N500, N1000 bank notes.The CBN made this known in a statement by its acting spokesperson, Isa AbdulMumin.
"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 , as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023," the statement said.
Last December, the CBN introduced new N200, N500, and N1000 notes, leading to the withdrawal of the old notes from circulation.
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