Some banks in Nigeria have started complying with the order of the Supreme Court, on the admittance of old Naira notes until end of December 2023.
The Court judgment extended the validity of the Central Bank of Nigeria (CBN) currency redesign policy to December.
The commercial banks in the City of Kano and Abuja have commenced paying out the old N500 and N1000 notes.
While some branches of Guarantee Trust Bank (GTB) issued out old notes, some others like Polaris bank in Abuja had not commenced as of the time this report was filed.
A member of staff confided in our reporter that only the old N200 notes were still being issued, “as we do not have any new directive on what to do yet.”
Sources at GTB said they received a directive from their management to begin paying old notes in their vault.
“The problem is that taking the old notes from customers will require the CBN form as we don’t have any directive in that regard,” the source said.
As of the time of this report, Daily Trust was unable to confirm if the CBN had officially issued a bank-wide circular instructing the Deposit money bank to comply.
