See How Nigerians React As CBN Finally Approves Use Of Old N500, N1000 Notes

• Nigerians have reacted as CBN finally approved use of old N500, N1000 notes. 

THE NATION REPORTERS reports that the announcement by the Central Bank of Nigeria (CBN) on the approval of the circulation of old N500 and N1000 notes has generated mixed reactions from Nigerians.

Recall that the announcement was made on Monday night in the statement issued by Isa Abdulmumin, CBN spokesperson, which directed commercial banks to start issuing and accepting old notes.

“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 Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.”

“Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023. Consequently, all concerned are directed to conform accordingly.”

Social media has been awash with mixed reactions from several Nigerians as they expressed their feelings on the approval.

See reactions below: