The Central Bank of Nigeria (CBN) has directed its branches nationwide to continue issuing both old and redesigned naira notes.
In a statement released and signed by its Director, Corporate Communications, Isa AbdulMumin, reiterated that all naira notes issued by the bank remain legal tender and should not be rejected by anyone.
In the statement:“We wish to state unambiguously that every banknote issued by the Central Bank of Nigeria remains legal tender and should not be rejected by anyone, as stipulated in Section 20(5) of the CBN Act, 2007,” the statement said.
“We reaffirm that there is sufficient stock of currency notes to facilitate normal economic activities,” the statement added.
Equally, CBN has charges the public to embrace alternative modes of payment, including electronic transfers and mobile money.
