{"id":878,"date":"2023-03-13T21:31:57","date_gmt":"2023-03-13T21:31:57","guid":{"rendered":"https:\/\/thenewsnow.org\/?p=878"},"modified":"2023-03-13T21:31:57","modified_gmt":"2023-03-13T21:31:57","slug":"at-last-cbn-directs-banks-to-receive-dispense-old-naira-notes","status":"publish","type":"post","link":"https:\/\/thenewsnow.org\/index.php\/2023\/03\/13\/at-last-cbn-directs-banks-to-receive-dispense-old-naira-notes\/","title":{"rendered":"At Last, CBN Directs Banks To Receive, Dispense Old Naira Notes"},"content":{"rendered":"<p class=\"p1\">The Central Bank of Nigeria has directed commercial banks to dispense and receive old naira notes as legal tender across the country.<\/p>\n<p class=\"p1\"><span class=\"s1\">The CBN gave the directive at a Bankers\u2019 Committee meeting held on Sunday, according to a statement by the acting Director, CBN Corporate Communications, Isa AbdulMumin, on Monday.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This is coming hours after the Presidency Monday evening said the <a href=\"https:\/\/punchng.com\/new-naira-buhari-didnt-tell-cbn-to-disobey-court-orders-presidency\/\">CBN had no reason not to comply with the ruling of the Supreme Court on the naira redesign policy<\/a>.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">It stated that the President, Major General Muhammadu Buhari (retd.), did not instruct the CBN governor, Godwin Emefiele, and the Attorney-General of the Federation, Abubakar Malami, to disobey \u201cany court orders involving the government and other parties.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But the apex bank in a statement titled, \u201cOld N200, N500, and N1,000 banknotes Remain Legal Tender \u2013 CBN\u2019, said the directive was in compliance with Buhari\u2019s administration obedience to court orders.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The statement read, \u201cIn compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterised the government of President Muhammad Buhari, and by extension, the operations of the Central Bank of Nigeria, as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cAccordingly, the CBN met with the Bankers\u2019 Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cConsequently, all concerned are directed to conform accordingly.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Nigeria has directed commercial banks to dispense and receive old naira notes as legal tender across<\/p>\n","protected":false},"author":1,"featured_media":873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/posts\/878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/comments?post=878"}],"version-history":[{"count":1,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/posts\/878\/revisions"}],"predecessor-version":[{"id":879,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/posts\/878\/revisions\/879"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/media\/873"}],"wp:attachment":[{"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/media?parent=878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/categories?post=878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenewsnow.org\/index.php\/wp-json\/wp\/v2\/tags?post=878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}