CBN to Nigerians: Old or new notes, anyone banks give you, collect it

The Central Bank of Nigeria has ordered commercial banks to collect old N500 and N1,000 notes from customers and issue same to them.

Its Spokesman, Isa Abdulmumin, said this when he spoke with one of Nigeria’s credible online news platforms, TheCable.

Abdulmumin said banks have begun to issue the old and new notes to customers at their various Automated Teller Machines terminals and over the counter.

He said though the CBN was yet to issue an official statement on the matter, Nigerians can spend and collect the old and new notes in line with the ruling of the Supreme Court on Friday.

He told TheCable: “Banks are paying old notes as well as new notes.

“They are all legal tender.

“Yes, the CBN has not issued an official statement on the issue.

“Anyone banks give to you, you can collect.

“We just want to make life easy for Nigerians.”

Abdulmumin expressed concern over the continued rejection of the old notes by some traders and transporters.

The CBN spokesman said the old notes should not be rejected as they are still a valid means of exchange.

He added: “No.

“They can’t reject it.

“It’s all legal tender.”