JUST IN: CBN finally approves use of old naira notes

The Central Bank of Nigeria has finally approved the use of old and new naira notes following the supreme court order.

The Acting Director of Corporate Communications CBN, Dr Isa Abdulmumin revealed this on Tuesday.

He affirmed that commercial banks have started issuing both the old and new notes to their customers as legal tenders.

But stressed that the apex bank is yet to issue official statement.

He added, “Banks are paying old notes as well as new notes. They are all legal tender.

“Yes, the CBN has not issued an official statement on the issue. Anyone banks give to you, you can collect. We just want to make life easy for Nigerians.”

Recall, last week, the Supreme Court gave its verdict on Naira redesign, directing the federal government to allow the validity of N200, N500 and N1000 notes till 31 December.

In compliance to the ruling, it was learned on Monday that some banks in Abuja and Lagos have started issuing the old notes to customers.

But, traders, business owners and motorists are not accepting the old notes.