test
Saturday, June 22, 2024
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

CBN HOSTS DIALOGUE WITH NESG, ORGANISED PRIVATE SECTOR TO ENHANCE FINANCIAL SECTOR

In a bid to  explore strategies for enhancing Nigeria’s financial sector. The Central Bank of Nigeria (CBN) has hosted a dialogue between the Organised Private...

MONTHLY INFLATION SLOWS AMID CBN POLICY TIGHTENING  .

  Nigeria’s headline month-on-month inflation rate slowed for a third time in a row in May 2024, the clearest indicator yet that the Central Bank...

INTERVENTION FUND FOR AUTO INDUSTRY: NADDC IN DISCUSSION WITH DEVELOPMENT BANKS.

  The National Automotive Design and Development Council (NADDC)says it in discussion with development banks and other partners for funding support for the auto industry. The...

Most Popular

FG AS ASSURES GAS PROJECT WILL BE READY 1ST QTR 2025.

The Federal Government has highlighted the huge multiplier impact of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project on the nation's economic growth and industrialisation. This was...

CBN HOSTS DIALOGUE WITH NESG, ORGANISED PRIVATE SECTOR TO ENHANCE FINANCIAL SECTOR

In a bid to  explore strategies for enhancing Nigeria’s financial sector. The Central Bank of Nigeria (CBN) has hosted a dialogue between the Organised Private...

MONTHLY INFLATION SLOWS AMID CBN POLICY TIGHTENING  .

  Nigeria’s headline month-on-month inflation rate slowed for a third time in a row in May 2024, the clearest indicator yet that the Central Bank...

INTERVENTION FUND FOR AUTO INDUSTRY: NADDC IN DISCUSSION WITH DEVELOPMENT BANKS.

  The National Automotive Design and Development Council (NADDC)says it in discussion with development banks and other partners for funding support for the auto industry. The...

Recent Comments