Following the ruling of the Supreme Court last week extending the usage of old N200, N500 and N1000 notes as legal tenders till December 31st 2023, banks are still undecided and divided over the re-issuance.
A few banks while reacting to the apex court’s directive maintained that they can’t commence re-issuance of the old notes until they are directed to do so by the Central Bank of Nigeria (CBN).
However, some bank officials who spoke with Vanguard on the development said they would comply with the Supreme Court’s ruling once CBN gives the directive.
An official working with Access Bank, speaking anonymously said the banks would issue the old naira notes when the apex bank gives the directive and not the Supreme Court.
“Banks in Nigeria are heavily regulated, and we only listen to what the CBN says. Despite the ruling, we still need to hear from our regulator,â€
