The ordeals that have been the lot of millions of Nigerians unable to access money they deposited in banks may be over soon as the Central Bank has finally said it is obeying the Supreme Court order that declared the old notes remained legal tender till February.
The bank had maintained a silence that rattled many people and the entire socio-economic landscapes since about two weeks ago that the apex court gave the ruling even as new notes are nowhere to be found.
The CBN declared on Monday that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till Dec. 31, 2023.
It said in a statement issued by its Acting Director, Corporate Communications, Alhaji lsa AbdulMumin that the decision was reached at a meeting of the Bankers Committee.
“In compliance with established tradition of obedience to court orders the CBN as a regulator and Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3.
“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 Dec. 31, 2023.
“Consequently, all concerned are directed to conform accordingly,’’ the CBN stated.