Deposit Money Banks have begun to ration the disbursements of old N1,000 and N500 notes to their customers amid uncertainty over whether the Central Bank of Nigeria (CBN) will release the old notes in its custody. This came about 24 hours after the CBN Governor, Mr Godwin Emefiele announced that old N1,000, N500 and N200 notes remained legal tender. But …

The Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila has described President Muhammadu Buhari’s directive to the Central Bank of Nigeria (CBN) to reintroduce the old N200 note into circulation as a step in the right direction. However, the Speaker said the President’s directive falls short of the Supreme Court order that the old currencies remain legal tender …

Governor Nasir El-Rufai of Kaduna State has faulted President Muhammadu Buhari’s directive limiting the legal tender status of old notes to only N200, He described the pronouncement as a total disregard of the Supreme Court on the matter. El-Rufai says the old and new notes remain legal tender in the state pending the supreme court’s decision. He noted that the …