Supreme Court Judgment: Banks Yet To dispense Old Notes In Osun

Residents of Osogbo have continued to experience a cash crunch amid the scarcity of the new Naira notes.

This is despite a Supreme Court judgment of March 3, 2023, which extended till December 2023, the issuance of the old N200, N500, and N1,000 notes.

It was observed by DAILY POST Monday that a good number of commercial banks in the state capital had no cash to give to their customers.

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The only exemptions from the observation were Ecobank and Zenith Bank.

At the above-mentioned banks, customers were given tally numbers to aid their access to the ATMs.

A bank customer, Ayodele Oreoluwa, who spoke to this medium, said he was elated when he learnt the Supreme Court had extended the deadline for the spending of the old Naira notes to December.

“I felt so happy that money will be available in banks. I was sad this morning that banks are yet to have money to give their customers,” he said.

Another customer, Comfort Adeniran said, “The Central Bank of Nigeria (CBN) should please bring out the old naira notes so that we can have money to spend after all, the policy has been nullified.

“These people should have mercy on us.”

It was learned that the delay in the issuance of the old notes was due to the fact that the commercial banks have not received any directive from the Central Bank of Nigeria (CBN) to implement the Supreme Court judgment.