Presidency says it has not refused to recognize old N200, N500 and N1,000 notes as legal tender
The controversy surrounding the use of the old Naira notes has left many confused and stranded especially petty traders as well as buyers in the markets.
When our correspondent, Nnenna Okon visited the very busy Mile 12 market this morning, some traders say they stopped collecting the old money on Monday.
According to them, the banks are not accepting deposit of the old money. Some others persons who are still collecting the old notes say they are also spending it immediately.
Our correspondent also reports that there is a reduction in the number of persons moving in and out of the market compared to what it used to look like.
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We want to inform you that the Presidency says it has not refused to recognize old N200, N500 and N1,000 notes as legal tender in violation of Supreme Court ruling.
Speaking to this, the President’s spokesman, Garba Shehu said it is not true that the Federal Government has taken a preemptive action on the legality of currency as a legal tender, in view of the case before the Supreme Court.
He said the position of the government and the CBN will be made known upon the determination of the suit coming up today, Wednesday 15th.
Recall that the CBN Governor at a meeting with diplomats in Abuja on Tuesday said the old notes are no longer legal tender from February 10, 2023.
