BREAKING: [CBN’s Naira Policy] Supreme Court Stops Old Naira Notes Ban
Recall that the CBN earlier gave a ten-day additional ultimatum for the return of the old naira notes to the banks.
Recall that the CBN earlier gave a ten-day additional ultimatum for the return of the old naira notes to the banks.
NAN reports that the introduction of the new redesigned N1,000, N200, and N500 notes and their slow-pace release in the system by commercial banks, as directed by the Federal Government, has been causing hardship to the people.
The arrest is consequent to the earlier warning issued by the Central Bank of Nigeria against any form of breach of procedures for the swap of the old and redesigned naira notes.
The CBN disclosed this today, following a series of negative reactions from the public over the earlier withdrawal limit policy.
The development, according to the NFIU boss, exposes innocent public officials to be liable to imprisonment.
“The opposition may eventually signpost a directive by the House as a way of resolution to drop the policy after the Wednesday meeting.”