The CBN and Emefiele has finnally complied with the Supreme Court Order. The old Naira Notes, ₦200, ₦500, ₦1,000 remain legal tender till December 31, 2023.
The Central Bank of Nigeria (CBN) has directed Deposit Money Banks to comply with the Supreme Court’s judgement of March 3, which revalidated the old ₦1,000, ₦500 and ₦200 notes as legal tender till December 31, 2023.
Central Bank of Nigeria CBN statement reads;
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 Muhammad Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court judgement of March 3. 2023.
Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.
Consequently, all concerned are directed to conform accordingly.
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