The Central Bank of Nigeria has released old Naira notes deposited in its vaults by deposit banks in a move aimed at finding a solution to the lingering Naira scarcity rocking the Nigerian financial system.
Following a Supreme court judgment that extended the validity of the old Naira notes to December 31, 20223 on March 3rd this year, the CBN had followed up with an order instructing commercial banks to accept the old N500 and N1,000 notes.
Reliable sources in the CBN said banks have been instructed to collect the old Naira notes they deposited in CBN and that before the end of the week, the country would be awash with Naira notes.
