Stella Dimoko Korkus.com: CBN Defies Supreme Court Order And Says Old Naira Notes Is No Longer Legal Tender

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Wednesday, February 15, 2023

CBN Defies Supreme Court Order And Says Old Naira Notes Is No Longer Legal Tender

In defiance of the Supreme Court order, the Central Bank of Nigeria, CBN, declared that the old naira notes of N200, N500 and N1000 have ceased being legal tender in Nigeria since February 10, 2023.



CBN’s branch controller in Bauchi Haladu Idris Andaza made the declaration while briefing journalists on Monday in Bauchi.

Last week, an ex parte order of the Supreme Court restrained CBN from implementing the February 10 deadline to stop the circulation of the old naira notes.
But, Andaza insisted the old naira ceased being legal tender on February 10.

“For the avoidance of doubt, CBN is ready and is open to receiving all of those old notes based on certain conditions and criteria.

“Customers are free to come to the bank and deposit, which they cannot do at the commercial banks anymore because the currency has ceased to be a legal tender since the 10th of this month,” he stated.

from dailypost

35 comments:

  1. It is well oo
    I just hope all this suffering and smiling worths it all,because if at the end of this sacrifices votes rigging and buying still happens,then it's a long journey.

    ReplyDelete
  2. Why are they causing confusion
    ? Today no old notes tomorrow something else.

    ReplyDelete
  3. Not a new thing. This country has been defying this county sinccce

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  4. Some people are still spending it. Na wa! God help this country.

    ReplyDelete
  5. Confused country...court and CBN na una sabi

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  6. I don't think the CBN defiled the supreme court order. The question should be, was the court supposed to have intervened in that matter? As in does the Apex court have the right on CBN, a body established by an Act? That's the argument of the AGF that the injunction shouldn't have been.

    The court erred in the first place. Not even the President can veto the CBN on an issue.

    ReplyDelete
    Replies
    1. Of course the court has a right to issue a ruling over the central bank. The only body that can then overturn the court is the legislature by issuing a new law

      Delete
  7. Structure in the mud!

    When you hear politicians talk and boast about structure, do you know what they mean by that? Vote buying and rigging machinery.

    Yes! You read me clearly.

    With the CBN stand on the redesigned naira notes, their structure have been thrown away and dismantled.

    Don't you see them crying and calling for Emefiele's head. Hiding under fighting for the poor masses. The same people who hid and kept Covid-19 palliatives away from the poor masses are now claiming to love the people. Isn't that funny and laughable at the same time.

    Make them just dey play.

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  8. The CBN gov is bend on dealing with politicians, but the masses are the ones suffering.

    ReplyDelete
    Replies
    1. Eventually...
      The masses will be ok, it must surely end in praise.

      Delete
  9. It's been hell living in this country for the past two weeks now. But I will not allow Nigeria to frustrate my life. Anything wey them like, make them do. All I know be say "God no go shame us".

    ReplyDelete
    Replies
    1. Thats the assurance my sister, God will always come through for us all.

      Delete
    2. Only 9 days to go. Just endure. Nigerians are survivors mehnnn

      Delete
  10. And then people will still blame business owners for refusing to collect old money. If na u, u go collect?

    ReplyDelete
  11. The negative effect of the CBN decision and stand on the old naira notes is felt more by the poor masses. The new naira notes are not even available, abi the bank officials dey hoard d new notes ni?

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  12. Supreme Court is now an object of caricature, inflicted by itself. Monumental disgrace

    Fan Emmanuel

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  13. See ehn, this will not end till the elections are over, minimize the little you have, cos in the coming days it will worsen.

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  14. I hope the BV that was given 12k of old notes by a POS vendor was able to pay it back into her account through the same vendor.

    ReplyDelete
    Replies
    1. I wasn't able to pay it back into my account, the vendor refused. Someone accepted and sold some things to me though i still have more than half of that amount with me. She was probably happy she has also given it out and collecting it back was not an option.

      Delete
    2. Same thing with my mum, she withdrew 10k y'day @ 1k charge from the POS, when I saw how serious the issue was going to be today, I quickly told her to rerun it back to the POS agent to pay it back into her account, POS agent say grandma no wahala, De will collect when you want to spend, I insisted she pays it back into her account o, no matter the charges which she did,this morning now, no one is collecting old notes.

      Delete
  15. This won't be easy o.. some drivers don't accept old notes.. God help us o

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  16. since a lot of people still have the old notes, depositing it in the CBN will still be difficult as there will be large crowd and CBN branches are mainly in the state capitals very far from other towns. It will be more favourable for people who have large amount to deposit. Imagine traveling looking for a CBN branch to deposit little cash

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  17. Nigeria is „the more you look, the less you see“ do you guys really think these politicians don’t know where to get the new naira note from? Is Emenife abi Emilifela not an APC member? Think! Wake up guys and smell the coffee. It’s barely 10 days to the election. These stupid and useless politicians will shock you next week.

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  18. This is the beginning of our suffering o. One can't even go out because of money

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  19. That's good in a way. Supreme Court has been useless and it is about time the authority is taken away from those judicial rascals. Time shall come when people will treat their judgement like those of magistrate courts.

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  20. In my area, they are still collecting old notes as at this morning. I had the new notes in 1 thousand naira notes, but anything you buy, it's the old note they will give you as change. Bus, the same thing. They were still collecting the old note this morning.

    I hope this evening home journey, we no go see film shaa. Well we move. God is able.

    ReplyDelete
  21. Omo, who say make I come born for naija? The sufferings is too much. Baba God your mercy o.

    ReplyDelete

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