By Ishaya Ibrahim
The Central Bank of Nigeria has announced that the old N200, N500 and N1000 notes remain legal tender
The CBN made the announcement via its verified Twitter handle after President Muhammadu Buhari exonerated himself from the apex bank’s disobedience of the Supreme Court ruling that the notes remain legal tender until December 31 this year.
In a follow up statement signed by the CBN head of corporate communications, Abdulmumuni Isa, the apex bank urged money deposit banks to comply with the March 3 ruling of the Supreme Court by commencing issuance and receiving of the old notes.
The confirmation by the CBN for Nigerians to resume the usage of the old notes as legal tender is expected to increase the availability of cash in the financial system.