Naira redesign: CBN says old, new notes are now legal tender

Our reporter| Both old and new notes are now legal tender, the Central Bank of Nigeria on Tuesday said on Tuesday.

The Acting Director of Corporate Communications CBN, Dr. Isa Abdulmumin, who disclosed this in Abuja, affirmed that commercial banks have started issuing both the old and new notes to their customers.

He, however, insisted that the apex bank is yet to issue an official statement.

“Banks are paying old notes as well as new notes. They are all legal tender, Isa said on Tuesday.

“Yes, the CBN has not issued an official statement on the issue. Anyone banks give to you, you can collect. We just want to make life easy for Nigerians.”

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The Supreme Court, last week gave its verdict on Naira redesign, directing the federal government to allow the validity of N200, N500, and N1000 notes till 31 December.

In response, some banks in Abuja and Lagos have started issuing old notes to customers.

But, traders, business owners, and motorists are not accepting the old notes.

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