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Use Old N200, N500, N1000 Till Dec 31st - CBN ~ OsazuwaAkonedo #2023 #Bank #breaking #cbn #Court #economy #Emefiele #Godwin #government #hardship #job #law, #Money #Muhammadu #Naira #Nigeria #politics #President #scarcity, #security

Use Old N200, N500, N1000 Till Dec 31st – CBN

Posted on March 14, 2023March 14, 2023 By OsazuwaAkonedo No Comments on Use Old N200, N500, N1000 Till Dec 31st – CBN
Breaking News, Economy, Law, news, Politics, Security, World News

Central Bank of Nigeria, CBN has directed all Deposit Money Banks to accept and transact with the old 200, 500, 1000 naira notes alongside the new currencies till December 31, 2023 when the old notes will become invalid according to the Supreme Court ruling of March 3, 2023.

CBN made the directive known in a press release made available around 10 pm on Monday night and signed by its Acting Director of Corporate Communication, Isa Abdulmumin.

According to the CBN, the decision to make the old notes legal tender till December 31, 2023 was reached after it met with Bankers’Committee last Sunday.

“Old 200, 500, and 1,000 naira banknotes Remain Legal Tender.


“In compliance with the established tradition of obedience to court orders and
sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central
Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.

“Accordingly, the CBN met with the Bankers’ Committee and has directed that the old 200, 500 and 1000 naira banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

“Consequently, all concerned are directed to conform accordingly”, CBN said.

OsazuwaAkonedo reports that many businesses in Nigeria suffered a lot of setbacks following naira scarcity and poor management of the cashless policy of the apex bank that came into effect in February, 2023. There was generally low patronage or poor sales.

Many residents and citizens in the country were subjected to untold hardship due to naira scarcity coupled with poor awareness and a poor follow up strategies for people to accept electronic means of transactions.

Many people were stranded on the road as commercial drivers do refuse to accept electronic means of payment or transferring money from one bank account to another online as a way of settling cost of transportation.

It was also observed that most commercial drivers don’t have POS machine or alternative means of collecting payment electronically in their vehicles.

It was also generally observed that the scarcity of naira led to drastic drop in the previously reoccurring high rate of kidnapping for monetary ransom in Nigeria.

CBN pic.twitter.com/3GEH5yLbo5

— OsazuwaAkonedo (@OsazuwaAkonedo) March 14, 2023
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Tags: #2023 #Bank #breaking #cbn #Court #economy #Emefiele #Godwin #government #hardship #job #law, #Money #Muhammadu #Naira #Nigeria #politics #President #scarcity, #security #Supreme
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LIFE

Onitsha-Owerri Federal Road Now Deathtrap In Oba ~ OsazuwaAkonedo #Abia #AkwaIbom #Anambra #Benin #Bola #Charles #CrossRivers #Deathtrap #Enugu #Erosion #FG #Gully #Imo #Lagos #oba #Onitsha #Owerri #PortHarcourt #Rivers #Soludo Onitsha-Owerri Federal Road Now Deathtrap In Oba August 6, 2023 4:04pm
Death Toll Rises More Than 288 In Indian Train Multiple Collision ~ OsazuwaAkonedo #Balasore #Indian #Odisha #Train Death Toll Rises More Than 288 In Indian Train Multiple Collision June 3, 2023 1:47pm
Unknown Gunmen: How Access Bank Chief Security Officer Saves Customers, Other Staff Lives In Ihiala ~ OsazuwaAkonedo #Access #Bank #breaking #customers, #Gunmen #Ihiala #Nigeria #Officer #Okija #security #Sit-at-home #Unknown Unknown Gunmen: How Access Bank Chief Security Officer Saves Customers, Other Staff Lives In Ihiala May 11, 2023 2:05am
Zelenskyy To Putin: We Are Actively Preparing For New Events In May, June ~ OsazuwaAkonedo #actively #Bakhmut #preparing #Prigozhin #Putin #Russia #Ukraine #Vladimir #Volodymyr #Wagner #Yevgeny #Zelenskyy Zelenskyy To Putin: We Are Actively Preparing For New Events In May, June May 7, 2023 11:39pm
EFCC Office In Enugu On Fire ~ OsazuwaAkonedo #EFCC #Enugu #Fire EFCC Office In Enugu On Fire May 6, 2023 6:55am
"I Don't Need Anything From Bad People" Victim Speaks As UK Court Sentences Ekweremadu, Wife, Doctor To 9, 4, 10 Years Imprisonment ~ OsazuwaAkonedo #“i #Abuja #anything #breaking #David #don’t #Ekweremadu #Enugu #imprisonment #justice #Lagos #London #Medical #Nigeria #Nigerian #Nwamini #people” #Police #sentences #UK “I Don’t Need Anything From Bad People” Victim Speaks As UK Court Sentences Ekweremadu, Wife, Doctor To 9, 4, 10 Years Imprisonment May 5, 2023 5:12pm
Ukraine Drills For Offensive Actions Against Russia As Zelensky Honours 750 More Fighters ~ OsazuwaAkonedo #actions #against #fighters #Honours #Kyiv #offensive #Putin #Russia #security #Ukraine #Vladimir #Volodymyr #Zelensky Ukraine Drills For Offensive Actions Against Russia As Zelensky Honours 750 More Fighters April 29, 2023 9:04pm
Sudan War: Why Nigerian Students Abandoned In Desert Couldn't Enter Egypt - FG ~ OsazuwaAkonedo #abandoned #Aswan #couldn’t #Egypt #FG #job #Khartoum #Nigerian #security #students #Sudan #war Sudan War: Why Nigerian Students Abandoned In Desert Couldn’t Enter Egypt – FG April 29, 2023 5:52am

EDITORIAL

We Are Set ~ OsazuwaAkonedo #Ezoic #WordPress We Are Set August 3, 2023 6:46am
Fuel Subsidy Removal: Where I Stand, Tinubu Speaks With Indication FG Shifts To Loan Elite Companies ~ OsazuwaAkonedo #Bola #Fuel #Loans #Subsidy #Tinubu Fuel Subsidy Removal: Where I Stand, Tinubu Speaks With Indication FG Shifts To Loan Elite Companies July 31, 2023 11:41pm
If you Can't Vote, Convince One Person To Vote Your Candidate Now ~ OsazuwaAkonedo ##LP ##Obidients #2023Election #Abubakar #Ahmed #APC #Atiku #Atikulates #Bola #breaking #can’t #candidate #columns #convince #economy #editorial #Education #entertainment #Jagaban #newspapers If you Can’t Vote, Convince One Person To Vote Your Candidate Now February 24, 2023 3:25pm
May The Souls Of Our Brothers, Sisters Who Couldn't Make It To 2023 Rest In Peace - Buhari ~ OsazuwaAkonedo ##Boko #2022 #2023Election #army #bandits #Buhari #EndSARS #Gunmen #Haram #iswap #Kuje #Muhammadu #Police #terrorists #Unknown May The Souls Of Our Brothers, Sisters Who Couldn’t Make It To 2023 Rest In Peace – Buhari January 1, 2023 10:05am
Judge Asking Okupe To Pay Fine For Collecting Physical Cash On Security Assignment Maybe Unprofessional, Embargo To National Security ~ OsazuwaAkonedo ##LP ##Obidients #Buhari #Dasuki #Doyin #Ebele #EFCC #FG #Goodluck #Ijeoma #Jonathan #Muhammadu #NTA #Obi #Ojukwu #Okupe #Omokri #ONSA #PDP #Peter Judge Asking Okupe To Pay Fine For Collecting Physical Cash On Security Assignment Maybe Unprofessional, Embargo To National Security December 20, 2022 5:59am
I'm Not Extension Of Anybody, Peter Obi Is The Best Candidate For Nigeria - Soludo's Son Ozonna ~ OsazuwaAkonedo ##LP #Ozonna #2023Election #Anambra #APGA #Charles #Obi #Peter #Soludo I’m Not Extension Of Anybody, Peter Obi Is The Best Candidate For Nigeria – Soludo’s Son Ozonna November 15, 2022 4:07pm
IGP, Others Hold Night Ceremony At Airport To Welcome Buhari ~ OsazuwaAkonedo ##LP #Alkali #APC #Baba #Buhari #Igp #London #Muhammadu #PDP #security #Usman IGP, Others Hold Night Ceremony At Airport To Welcome Buhari November 14, 2022 6:28am
Elon Musk Give Reasons Over Twitter Workers Sacked ~ OsazuwaAkonedo #election #media #twitter #workers #Elon #Musk Elon Musk Give Reasons Over Twitter Workers Sacked November 5, 2022 3:27pm

TRENDING

Traditional Rulers' Silence, No Longer Golden ~ OsazuwaAkonedo #Bill #FG #Fulani #government #herdsmen #Law #Malcolm #Nigeria #North #Omirhobo #Resources #Water Traditional Rulers’ Silence, No Longer Golden September 3, 2022 12:25pm
ANEEJ, Police, Others Meet In Benin For Crime Prevention Strategies ~ OsazuwaAkonedo #ANEEJ #CAN #DavidUgolor #NigeriaPoliceForce ANEEJ, Police, Others Meet In Benin For Crime Prevention Strategies March 29, 2022 9:12am
DSS, Prison Operatives In Free For All Fight Over Godwin Emefiele's Custody ~ OsazuwaAkonedo #Bola #cbn #Dss #Emefiele #Godwin #NCS #Tinubu DSS, Prison Operatives In Free For All Fight Over Godwin Emefiele’s Custody July 25, 2023 4:04pm
Russia-Ukraine War, Nigerians To Suffer More Hardship ~ OsazuwaAkonedo #Nigerians #Russia #RussiaUkraineWar #Ukraine #VladimirPutin Russia-Ukraine War, Nigerians To Suffer More Hardship February 28, 2022 8:15am

MONTH

Test ~ OsazuwaAkonedo Test September 16, 2023 8:35am
Police Rescues Kidnapped Victim In Anambra ~ OsazuwaAkonedo #Anambra #Kidnapping #Onitsha #Police Police Rescues Kidnapped Victim In Anambra September 2, 2023 8:19pm
Morocco Confirms 2497 People Killed In Friday Night Earthquake ~ OsazuwaAkonedo #AlHaouz #Casablanca #Marrakech #earthquake #Morocco Morocco Confirms 2497 People Killed In Friday Night Earthquake September 11, 2023 1:39pm
DSS Raises Alarm As Banks Plan To Shutdown Services Nationwide ~ OsazuwaAkonedo #banks #Bola #Dss #NLC #PEPT #Strike #Tinubu #Tribunal DSS Raises Alarm As Banks Plan To Shutdown Services Nationwide September 4, 2023 8:42pm

WEEK

Mohbad's Spirit Is Strong, I Find It Hard To Sleep - Davido ~ OsazuwaAkonedo #Lagos #Larry #Marley #Mohbad #Naira #Police #Sam Mohbad’s Spirit Is Strong, I Find It Hard To Sleep – Davido September 20, 2023 6:58am
BRA Claims Responsibility For 8 Soldiers, Other Operatives Killed In Imo ~ OsazuwaAkonedo #Abia #Biafra #BRA #Ekpa #Gunmen #Imo #ipob #Ohafia #Simon #SitAtHome #Umualumaku #Unknown BRA Claims Responsibility For 8 Soldiers, Other Operatives Killed In Imo September 21, 2023 6:39am
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Economy

  • EFCC’s Approach Into Rochas Okorocha House Can Lead To Loss Of Lives – Ex-FRSC Boss

    May 25, 2022

  • 2022, Deadliest Year For Journalists – Committee

    January 24, 2023

  • EXPOSED: DSS Officials Arrested For Kidnapping

    January 10, 2022

  • I Will Continue To Campaign For Tinubu As Next Nigeria President – Buhari

    February 4, 2023

  • Putin Cancels Victory Day Celebration As Wagner Quits Bakhmut

    May 7, 2023

Entertainment

  • [Video] Come Let’s Enjoy Ourselves, I’ll Be Live At Mc Casino Games Of Jokes On New Year Day – 2Face Idibia

    December 13, 2021

  • What You Need To Know About FG 7 New Amended Charges Against Nnamdi Kanu

    November 12, 2022

  • No More School On Fridays In Kaduna – Governor Nasir El-Rufai

    January 10, 2022

  • I’m Not Guilty, Police Officer Who Allegedly Shot Dead Lawyer On Christmas Day Tells Court

    January 16, 2023

  • We Came Out Of Civil War Strong But… – LAPO Founder, Godwin Ehigiamusoe Speaks To Mark 64th Birthday

    August 21, 2022

Security

  • DSS Raises Alarm As Banks Plan To Shutdown Services Nationwide

    September 4, 2023

  • Unknown Gunmen: IGP Deploys More Men To Southeast

    April 21, 2022

  • ASUU Strike: I’m Consulting – Buhari

    September 17, 2022

  • Nnamdi Kanu: Victory Is Sure – Lawyer

    April 8, 2022

  • Buhari Launches National Monitory App

    December 22, 2022

Politics

  • I Did Not Collect Any Dime From Hushpuppi Except Buying 5 Sets Of Native Clothes At The Cost Of 300,000 Naira From My Tailor__DCP Abba Kayri

    July 29, 2021

  • Civilian Casualties Increase In Israel, Gaza Deadly Rocket Strikes

    August 7, 2022

  • How Archbishop Desmond Tutu Used Non-violent, Humour To Win, Fight For Freedom

    December 26, 2021

  • If Our People In Mariupol Are Killed, No More Negotiation With Russia – Zelenskyy

    April 24, 2022

  • Recruitment Into Military Not Job Opportunity – Nigerian Army

    January 7, 2023

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