Posted by Kolade Stephen. on 14 February, 2023 under Naija News
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Deposit Money Banks (DMBs) across the country yesterday started rejecting the old naira notes despite the Supreme Court order extending the deadline till tomorrow, February 15 when an action would most likely be taken.
According to findings by Dailytrust across several states of the country and the Federal Capital Territory (FCT) indicates that the commercial banks were turning down customers who had walked into their branches to deposit old notes collected over the weekend.
Recall that a seven-member panel of the Supreme Court, last week, issued an order of interim injunction halting the plan by the Central Bank of Nigeria (CBN) to end the use of the old banknotes of N200, N500, and N1, 000.
The court adjourned the hearing of the main case until tomorrow, February 15.
The decision follows a lawsuit filed by the governors of Kogi, Kaduna and Zamfara states, who challenged the naira redesign policy of the Muhammadu Buhari-led federal government.
This development left many Nigerians confused. While some were accepting the old notes, others blatantly refused them.
In the same vein, President Buhari who had asked for 7 days to enable him to resolve the crisis caused by the scarcity of new naira notes has remained silent.
Analysts have expressed concern that despite the intervention of the National Council of States, there is no policy statement from both the FG and the CBN, beyond the rhetoric that more of the new notes be printed or the old ones recalculated.
newsmen , who visited commercial banks in Lagos, Abuja, Kwara, Ondo, and Bayelsa states amongst others, observed that the old notes were rejected by the banks.
“I was shocked that the old notes were rejected at the bank today. I took the money I had with me but the bank rejected the old N500 notes,â€