{"id":254022,"date":"2023-03-08T14:40:39","date_gmt":"2023-03-08T13:40:39","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=254022"},"modified":"2023-03-08T14:40:39","modified_gmt":"2023-03-08T13:40:39","slug":"naira-redesign-cbn-denies-asking-banks-to-disburse-old-notes","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2023\/03\/08\/naira-redesign-cbn-denies-asking-banks-to-disburse-old-notes\/","title":{"rendered":"Naira Redesign: CBN Denies Asking Banks To Disburse Old Notes"},"content":{"rendered":"

The Central Bank of Nigeria<\/a> (CBN) says it has not issued a fresh directive to commercial banks concerning last Friday\u2019s judgment of the Supreme Court ordering the circulation of the old naira notes alongside the new ones until December 31.<\/p>\n

A seven-member panel of justices presided over by Justice Inyang Okoro had described as unconstitutional, President Muhammadu Buhari\u2019s directive to the CBN for the redesigning and withdrawal of old notes of N200, N500 and N1,000, without consultation with the states, Federal Executive Council, the National Council of States, and other stakeholders.<\/p>\n

The development has engendered confusion among commercial banks and business operators following the non-issuance of a directive by the CBN on receiving the old N500 and N1000 notes. <\/p>\n

However, the CBN spokesman, Isa Abdulmumin, who said the apex bank has not issued an official statement on the issue. <\/p>\n

\u201cBoth the old and new notes are legal tender, and banks are currently issuing them to customers. Nigerians should not reject any note, whether old or new.\u201d Daily Trust quoted a senior official at the apex bank as saying. <\/p>\n

More commercial banks across the country have commenced dispensing the old N500 and N1000 notes to their customers.<\/p>\n

This is coming 24 hours after Daily Trust reported that Guarantee Trust Bank (GTB) began dispensing the old notes across its branches nationwide on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria (CBN) says it has not issued a fresh directive to commercial banks concerning last Friday\u2019s judgment of the Supreme Court ordering the circulation of the old naira notes alongside the new ones until December 31. A seven-member panel of justices presided over by Justice Inyang Okoro had described as unconstitutional, […]<\/p>\n","protected":false},"author":39,"featured_media":141385,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"floatbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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