- Appoints acting spokesperson
From Uche Usim, Abuja
In total deference to the ruling of the Supreme Court, the Central Bank of Nigeria (CBN), on Wednesday, directed banks to accept and issue the old and redesigned naira notes.
The apex bank also redeployed some Directors and appointed a new acting Director, Corporate Communications, Mrs Sidi Ali Hakama. She takes over from Dr Isa Abudulmumin, who has been redeployed to another department.
As regards the redesigned naira notes brouhaha, the Supreme Court granted the prayer of the Minister of Justice and Attorney-General of the Federation to extend the use of old naira banknotes beyond the December 31, 2023 deadline (ad infinitum).
A statement by the new Spokesperson, Mrs Sidi Ali Hakama, said all CBN branches nationwide have been mandated to continue to issue and accept all denominations of Nigerian banknotes, old and redesigned, to and from deposit money banks (DMBs).
“For the avoidance of doubt, the Supreme Court ordered that the old versions of N200, N500 and N1,000 banknotes shall continue to be legal tender, alongside the redesigned versions
“Accordingly, in line with Section 20(5) of the CBN Act 2007, all banknotes issued by the Central Bank of Nigeria (CBN), will continue to remain legal tender, indefinitely.
“Members of the public are enjoined to continue to accept all Naira banknotes (old or re-designed) for their day-to-day transactions and handle these banknotes with the utmost care to safeguard and protect the lifecycle of the banknotes
“Furthermore, the general public is encouraged to embrace alternative modes of payment, e-channels, in order to reduce pressure on the use of physical cash,” she said.