Lagos residents on Tuesday began to accept the old N200, N500 and N1,000 banknotes for transactions following a validation from the Central Bank of Nigeria (CBN) to do so.
The CBN in a statement by its acting Director, Corporate Communications, Mr Isa AbdulMumin, on Monday, directed the commercial banks to comply with the Supreme Court judgement of March 3.
CBN said: “Accordingly, the CBN met with the Bankers’ Committee and directed that the old N200, N500 and N1,000 banknotes remain a legal tender alongside the redesigned banknotes till Dec. 31.
“Consequently, all concerned are directed to conform accordingly.
A visit to some commercial banks, markets and filling stations in Lagos revealed that traders had started accepting the old Naira notes and also giving it as change
