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Tuesday, 14 February 2023

Anxiety as Banks reject old naira notes

Despite the Supreme Court order extending the deadline for the old naira notes till Wednesday this week, banks yesterday stopped accepting the notes even as Nigerians continue to spend long hours in queues to access the new naira notes.

The Supreme Court of Nigeria, last Wednesday entered an interim order against the Central Bank of Nigeria, CBN banning the apex bank from going ahead with the February 10th deadline for the end of use of the old N200, N500, N1,000 notes.

Again, President Muhammadu Buhari yesterday met with the CBN governor, Godwin Emefiele, at the Presidential Villa Abuja.

The CBN governor, who was seeing the President privately for the third time since the cash crisis escalated across the country, did not speak to journalists as he left the villa

The reason for the visit was not known, as at the time of filing this report, it was however, believed to be in connection to finding solution to the cash crisis.

Reports reveal that banks yesterday did not accept the old naira notes from customers. Further investigations showed that some of the banks sent messages to their customers, especially PoS agents, saying they should stop accepting the old naira notes. 

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