NAIRA: Nigerians lament scarcity as banks issue old notes to hesitant customers 


Old naira notes

Stories by Tunde Oso

Over a week after the Supreme Court ordered the Central Bank of Nigeria to allow the old N200, N500 and N1,000 banknotes to remain legal tender until December 31, Nigerians are still unable to obtain cash: old and new Naira bank notes. 

The CBN had issued a deadline of February 10 for the old denominations.

On Friday, Supreme Court legalised using certain denominations of old Naira notes as legal tender until December 31.

A visit to some banks in Ota, Ogun State, Lagos, Abuja, Kano and Port Harcourt revealed that neither the old nor the new banknotes were available, not even the N20, N50 and N100 notes that were not redesigned.

A bank official, who spoke on the condition of anonymity, told our correspondent that the bank had not started paying out the old notes because there is no directive from CBN and the apex bank has not disbursed the notes.

A bank customer in Ota, Ogun State, Mr. Ciro Ojukwu said the new naira note is scarce and…

Source: Vanguard Newspaper