Naira notes
Central Bank of Nigeria, CBN, Wednesday said that all banknotes (old, and new) remain legal tender.
The apex bank was reacting to news of insufficient funds, and rejection of old notes in some parts of the country.
The bank on its Twitter platform now X Platform, said: “For the avoidance of doubt, while reiterating that there are sufficient banknotes across the country for all normal economic activity, we wish to state unambiguously that every banknote issued by the Central Bank of Nigeria remains legal tender and should not be rejected by anyone, as stipulated in Section 20(5) of the CBN Act, 2007,” said CBN spokesman, Isa AbdulMumin.
“Accordingly, branches of the CBN across the country have been directed to continue to issue different denominations of old and redesigned banknotes in adequate quantities to Deposit Money Banks for onward circulation to bank customers.
“We wish to restate that all denominations of banknotes issued by the CBN remain legal tender. In line with Section 20(5) of the CBN Act, 2007, no one should refuse to accept the Naira as a means of payment.”
The Minister of Information and National Orientation, Mohammed Idris, has warned politicians against linking stampedes…
Ohafia, Abia State, was plunged into mourning on Sunday following a tragic accident involving a…
An Islamic scholar and political activist, Dr. Usman Bugaje, has highlighted the inability of the…
The presidential candidate of the Social Democratic Party (SDP) in the 2023 general elections, Prince…
Vice President Kashim Shettima has mourned the victims of the recent tragic stampedes that claimed…
The National Agency for the Control of AIDS has advised Nigerians to prioritize their health…