Business owners, traders, and transporters in the Federal Capital Territory, Abuja, are defying the Central Bank of Nigeria’s directive on accepting old N500 and N1000 notes as legal tender 17 hours after the bank’s announcement.The Daily Post reported that the country’s apex bank on Monday bowed to the March 3 Supreme Court’s ruling and issued a statement that the old naira notes remain legal tender until December 31.Investigations by the Daily Post, however, found...

After several criticism from different quarters, the Central Bank of Nigeria (CBN) on Monday Night said old N200, N500, and N1,000 banknotes remain legal tender Till December 31, 2023.The apex bank’s Acting Director of Corporate Communications, Isa AbdulMumin stated this in a statement on Monday.“In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhamma...

The Central Bank of Nigeria has cleared the air by directing commercial banks to dispense and accept the deposit of old Naira notes amid the raging currency crisis.Dr. Isa Abdulmumin, Acting Director of Corporate Communication at the CBN, in an exclusive chat with The Daily Post on Monday, clarified that there is no statement from the apex bank telling commercial banks to dispense and accept the old N500 and N1000 notes from Nigerians.Abdulmumin was reacting to a st...