The Central Bank of Nigeria (CBN) has dismissed reports that the old N200, N500, and N1,000 banknotes will cease to be legal tender by 31 December 2024. In a statement by the Acting Director of Corporate Communications, Mrs. Sidi Ali, the CBN refuted these claims, stating they are false and intended to disrupt the country’s payment system. Ali emphasized that …

Residents of Kogi State have been made aware of the necessity to accept the old Naira notes in accordance with the Supreme Court’s ruling against the Federal Government, the Central Bank of Nigeria (CBN) and others. On March 3, the Supreme Court ruled that the new and old Naira notes should co-exist as legal tender in Nigeria till 31 December. …

Some Nigerian banks have commenced paying old N1,000, N500 notes to customers following the Supreme Court judgment, which extended the validity to 31 December. Daily Trust reports banks in the City of Kano and Abuja paid customers, who came for withdrawals in old Naira notes on Monday. GTBank and Access Bank branches, for instance, paid out the old banknotes in …

Governor Nyesom Wike of Rivers State has backed the Supreme Court judgment extending the validity of old N200, N500, and N1,000 notes till 31 December. Also, Senior Advocate of Nigeria, Wahab Shittu has said that anyone standing in the way of the implementation of the Supreme Court ruling on the extension of the validity of the old Naira notes should …

Deposit Money Banks (DMB) on Saturday, continued to collect old N500 and N1,000 notes from customers, contrary to a statement by the Central Bank of Nigeria (CBN). The banks include GTB, First Bank, Fidelity Bank, and Sterling Bank. TheCable verifies the collection of old notes at different local banks. Long queues were seen in front of banks as customers attempted …

The Central Bank of Nigeria (CBN) has created a portal for the collection of the old Naira notes as the deadline to submit to banks directly elapsed last Friday. The CBN published a notification titled ‘Redemption of Currency Notes’ on its website. The notification delivers a link to the portal to enable users redeem (deposit) their old N1,000, N500, and …

The Ogun State Governor, Prince Dapo Abiodun has warned commercial banks operating in the state against rejecting old Naira notes. In a statement on Tuesday, the Chief Press Secretary to the governor, Mr Kunle Somorin said his principal issued the warning while addressing market men and women at Itoku Kampala market in Abeokuta, the state capital, as part of his …

The presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar has again called on the Central Bank of Nigeria (CBN) not to extend the withdrawal of old naira notes beyond the Friday, 10 February deadline. Atiku made the call despite the difficulties being encountered by millions of Nigerians across the country in accessing the redesigned currency notes. In …

Nigerian banks have announced changes to operating hours ahead of the 31 January deadline for phasing out old naira notes. FirstBank of Nigeria Limited, Standard Chartered, Wema Banks, and many others declared that their branches would be open for cash deposits on Saturday and Sunday. The bank made the statement in a messages to customers on Friday, via their social …

The United Bank for Africa (UBA) says it will open on Saturdays for the period of the transition between the old Naira notes and the new ones, announced this week by the Central Bank of Nigeria (CBN). The CBN announced on Wednesday that the existing N200, N500 and N1,000 currency notes will cease to be legal tender from next 31st …