Relief as banks, transporters, filling stations, others accept old N500, N1,000 notes
THE widespread rejection of the old N500, N1,000 yesterday melted as banks and Nigerians began to accept the notes in compliance with the directive of the Central Bank of Nigeria, CBN. The CBN on Tuesday night had directed banks to comply with the Supreme Court ruling that the old notes remain legal tender alongside the redesigned notes till December 31st, 2023. Consequently, banks yesterday began to accept the old N500 and N1,000 notes from customers without requesting for the CBN cash return reference code. Vanguard survey also showed increasing acceptance of the old notes among Nigerians, while rejection persisted in some segments especially among transporters. Banks pay, accept old notes Visits to banks around Igando-Ikotun and Oshodi-Isolo LGA areas of Lagos revealed that banks have started dispensing and receiving old notes without the CBN reference code. A Fidelity Bank security guard ...