TyecCentral Bank of Nigeria has directed commercial banks to comply with the Supreme Court ruling of March 3, 2023 which ruled that old N200, N500, and N1,000 banknotes will remain Legal Tender till the end of December 2023.
A statement signed by Mr Isa AbdulMumin
Ag. Director, Corporate Communication of CBN said 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 (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.
Mr Isa explained that: ‘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”.
