Friday, September 5, 2025
Home Business OLD BANKNOTES REMAINS LEGAL TENDER, SAYS CBN

OLD BANKNOTES REMAINS LEGAL TENDER, SAYS CBN

Every banknote remains legal tender and should not be rejected by anyone, the Central Bank of Nigeria has disclosed. This is as the apex bank directed all its branches across the country to continue to issue different denominations of the old and redesigned banknotes in adequate quantities to deposit money banks.

The apex bank stressed that every banknote it has issued remains legal tender and should not be rejected by anyone. This disclosure was contained in a public statement issued by the Director of Corporate Communications of the CBN, Isah Abdulmumin, on Wednesday, in Abuja.

Isa said the directive follows reports of scarcity of cash across some major cities in the country despite initial assurances by the CBN of sufficient cash stocks in all locations across the country. Isa further advised members of the public to reduce the pressure on the use of physical cash and embrace alternative modes of payment.

RELATED ARTICLES

NIGERIA CUSTOMS SERVICE AUTOMATES EXCISE REGISTER SYSTEM.

    The Nigeria Customs Service (NCS) has commenced full automation of its Excise Register System (ERS), marking a major step in its ongoing trade modernisation...

NATIONAL SINGLE WINDOW TO TRANSFORM TRADE, DRIVE ECONOMIC STABILITY ­- FINANCE MINISTER.

  Nigeria’s trade sector is set for a major overhaul as the Federal Government prepares to launch the National Single Window project in early 2026....

FCCPC MOVES AGAINST DIGITAL LENDING ABUSES, ROLLS OUT NEW REGULATIONS.

    The Federal Competition and Consumer Protection Commission (FCCPC) has taken a decisive step to curb widespread abuses in Nigeria’s fast-growing digital lending sector with...

Most Popular

NIGERIA CUSTOMS SERVICE HAILS ASSISTANT COMPTROLLER OGBORU’S HISTORIC MOTORBIKE EXPEDITION TO BELGIUM.

The Nigeria Customs Service (NCS) has applauded the outstanding feat of Assistant Comptroller of Customs, Akpevwe Ogboru, popularly known as Tracta 2, who successfully completed...

NIGERIA CUSTOMS SERVICE AUTOMATES EXCISE REGISTER SYSTEM.

    The Nigeria Customs Service (NCS) has commenced full automation of its Excise Register System (ERS), marking a major step in its ongoing trade modernisation...

NATIONAL SINGLE WINDOW TO TRANSFORM TRADE, DRIVE ECONOMIC STABILITY ­- FINANCE MINISTER.

  Nigeria’s trade sector is set for a major overhaul as the Federal Government prepares to launch the National Single Window project in early 2026....

FCCPC MOVES AGAINST DIGITAL LENDING ABUSES, ROLLS OUT NEW REGULATIONS.

    The Federal Competition and Consumer Protection Commission (FCCPC) has taken a decisive step to curb widespread abuses in Nigeria’s fast-growing digital lending sector with...

Recent Comments