The Central Bank of Nigeria (CBN), has directed commercial banks and other financial institutions in the country to continue to accept and pay out the old naira bank notes till December 31, 2023, in line with a recent Supreme Court ruling.In a statement signed by CBN’s Acting Director, Corporate Communications, Dr. Isa Abdulmumin, the central bank disclosed that it had met with the Bankers’ Committee and directed that the old banknotes remained legal tender alongside the redesigned notes.But in apparent reaction to public unease over the federal government’s long silence and delayed response to the March 3 Supreme Court ruling on the currency redesign, the presidency yesterday said the CBN did not need a further directive from President Muhammadu Buhari to comply with the apex court’s order.Earlier yesterday, Buhari washed his hands off the reported refusal of the federal government to comply with the ruling of the Supreme Court extending the validity of the old banknotes to December 31, 2023.
