Business
Customers Claim Banks Give Old Naira Notes But Refuse To Collect
banks started issuing the old notes after a supreme court judgment
Emerging details show that some banks refuse to collect old Naira notes – N1,000 (One thousand Naira) and N5,00 (Five hundred Naira)- from customers after issuing them.
There are confirmations of this development in Ogun state and Abuja.
“They give out the old Naira notes across the counter and through ATMs (Automated Teller Machines) but are not taking it back ” SocietyNow.Ng gathered.
The banks started issuing the old notes after a supreme court judgment declared the old Naira Notes notes remain legal tender till December 31, 2023.
President Muhammadu Buhari and the Central Bank of Nigeria Governor, Godwin Emefiele that declared that the old notes ceased to be Legal tender on February 10, 2023, have not officially reacted to the Supreme Court ruling made on March 3, 2023.
The Supreme Court made the ruling, among other things, to alleviate the suffering forced on Nigerians as a result of the scarcity of Naira in the face of the redesign by the Central Bank of Nigeria.
The Naira scarcity that resulted in a cash crisis over the inability to get Naira notes from the banks spiraled into violent protests and attacks on Banks.
