Supreme Court Ruling: Anxiety as banks await CBN
•We can't re-issue old notes without CBN directive — Banks •Say CBN takes order from President STAKEHOLDERS in the financial sector and banks are divided over re-issuance of the old naira notes following the Supreme Court judgement extending their legal tender status till December 31st 2023. While banks said they cant commence re-issuance of the old notes until they are directed to do so by the CBN, stakeholders including bank customers, financial analysts and business owners have called for immediate re-issuance of the old naira notes in compliance with the Supreme Court, Some banks' officials who spoke to Vanguard MoneyDigest said the banks would comply once they get a directive from CBN. One of the officials working with Access Bank who spoke on condition of anonymity said the banks would obey what CBN says, not the Supreme Court. "Banks in Nigeria are heavily regulated, and we only listen to what the CBN says. Despite the ruling,...