CBN clarifies its position on accepting obsolete Naira notes

 In light of the growing currency crisis, the Central Bank of Nigeria has clarified its

position on ordering commercial banks to accept and dispense outdated Naira notes.

In an exclusive interview with DAILY POST on Monday, Dr. Isa Abdulmumin, Acting Director of Corporate Communication CBN, made it clear that there is no notification from the apex bank ordering commercial banks to accept the old N500 and N1000 notes from Nigerians.

Abdulmumin was responding to a statement made by Prof. Chukwuma Soludo, the governor of Anambra State, who claimed that the apex bank has ordered commercial banks to accept and dispense outdated notes.

According to him, Governor Charles Soludo made the comment, not the Central Bank of Nigeria, he claimed. A collection of outdated naira notes is not being handled by banks per a statement from the Central Bank. I have no doubt that the bank will publish a statement at some point in the future.

Economic stakeholders are still concerned by the CBN's silence ten days after the Supreme Court upheld the validity of the old naira notes, notwithstanding the suffering the situation has caused for Nigerians.