The Central Bank of Nigeria has instructed all its branches nationwide to continue issuing various denominations of both old and redesigned banknotes in ample quantities to deposit money banks.

The Apex Bank disclosed this in a statement signed by its Director, Corporate Communications, Isa AbdulMumin, and posted on its X handle on Wednesday.

This comes in response to reports of cash shortages in major cities, despite earlier assurances from the CBN about sufficient cash availability nationwide.

Part of the statement read, “For the avoidance of doubt, while reiterating that there are sufficient banknotes across the country for all normal economic activity, we wish to state unambiguously that every banknote issued by the Central Bank of Nigeria remains legal tender and should not be rejected by anyone, as stipulated in Section 20(5) of the CBN Act, 2007.

“Accordingly, branches of the CBN across the country have been directed to continue to issue different denominations of old and redesigned banknotes in adequate quantities to Deposit Money Banks for onward circulation to bank customers.

“We wish to restate that all denominations of banknotes issued by the CBN remain legal tender. In line with Section 20(5) of the CBN Act, 2007.”

It added that “no one should refuse to accept the naira as a means of payment.”

The CBN advised the public to accept all CBN-issued banknotes currently in circulation and guard against panic withdrawals.

“We reaffirm that there is sufficient stock of currency notes to facilitate normal economic activities. Furthermore, to reduce the pressure on the use of physical cash, members of the public are again advised to continue to embrace alternative modes of payment,” it noted.

Source: https://punchng.com/breaking-old-new-naira-notes-remain-legal-tender-cbn/

Latest Development, Coming From CBN NOW

Don't Forget, NC BLOG, Bring This UPDATE

No wahala.

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It is well ooo.

Tinubu will hate the new notes ehn!

Xscape1993:
It is well ooo.

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Nothing changed, Old or New

E no go better for Emefiele


✌️

Mtcheewww...

Matters arising...
Inside the N5B Presidential yacht already delivered on credit...

The Chief Whip of the Nigerian Senate, Ali Ndume, confirmed last week that the controversial N5 billion Presidential yacht was purchased on credit and already delivered. See the link below for more

The fanciful yacht has already started accruing interest to be settled with income from various sources, including additional loans and from poverty-stricken tax payers.

A presidential yacht has a helipad, garden, spa, cinema, library, personal museum, sports centre, pools, suites and hospital.

Take a look at the luxury floating toy.

https://dailypostngr.com/2023/11/presidential-yacht-deal-already-signed-and-delivered-ndume/

I was not expecting anything different from the CBN on this matter

Update

J

illicit:
E no go better for Emefiele


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I say a big amen to that!

Wetin concern us with expired note for dis tinubu period

Way forward

We just suffered for nothing early this year...

And the man who presided over everything is in his village currently sipping fura da nunu, and feeling as docile and irresponsible as ever.

B4 nko

After all the stress and stupidity of some Nigerians too.

There was no plans for the new notes or a plan on how to handle it....

I think it was just used to print more money into the hands of the Politicians for election purposes

Lobarton!!



A clear indicator that Emefiele messed himself big time.

ok

Nigeria is a banana republic.

Only God knows what buhari, tinubu and emiefile did with that politics of old naira.

They cheered and celebrated as millions of Nigerians were punished with this useless policy - thinking they will hurt President Bola Ahmed Tinubu.

But man no be God. Who God has blessed, no one can curse.

Mtcheew

illicit:
E no go better for Emefiele


✌️

Buhari

Ndi ara

STEWpid:
Lobarton!!



A clear indicator that Emefiele messed himself big time.

Anybody who thinks that Buhari was not 95 percent responsible is not smart at all.

Failed attempt to witdrawal old notes