The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks (DMBs) in Nigeria to comply with the Supreme Court’s ruling on Wednesday that the old naira notes will remain legal tender of the country till further notice.
The apex bank made this known in a statement on Wednesday shortly after the Supreme Court’s ruling while noting that the old notes will co-exist alongside the redesigned notes indefinitely.
“Following the order of the Supreme Court on Wednesday, November 29, 2023, granting the prayer of the Minister of Justice and Attorney-General of the Federation to extend the use of old Naira banknotes ad infinitum, the Central Bank of Nigeria (CBN) has directed all its branches to continue to issue and accept all denominations of Nigerian banknotes, old and re-designed, to and from deposit money banks (DMBS).
