The story is illustrated with vintage Naira notes. Deposit money banks operating in Nigeria have been told to abide by the Supreme Court's ruling from March 3, 2023, in accordance with the long-standing tradition of court order obedience and upholding the Rule of Law Principle that has characterized President Muhammadu Buhari's administration and, by extension, the CBN's operations as a regulator.
Following a meeting with the Bankers' Committee, the CBN decided that the old ₦200, ₦500, and ₦1000 banknotes would continue to be accepted alongside the newly designed banknotes through December 31, 2023.
As a result, everyone involved is commanded to do so.
Signed.
Itsa AbdulMumin.
Director in Acting Capacity.
Business communications.
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