The Central Bank of Nigeria (CBN) is yet to release the old N1000 and N500 notes it mopped out of circulation despite asking commercial banks to commence their recirculation, findings by Daily Trust have revealed.
This is amid the struggle by commercial banks to meet the increasing demands of customers who besiege their branches across the states and the Federal Capital Territory (FCT).
Traders, artisans, PoS operators, and students, among others, who visited bank branches, said they were disappointed as they could not withdraw the amounts they wanted.
Those who spoke to our correspondents said they were only given between N5,000 and N10,000 while a few others managed to get N20,000.
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The CBN said Monday in a statement by its spokesman, Isa AbdulMumin, that deposit money banks operating in the country have been directed to comply with the Supreme Court ruling of March 3 which said the old N1,000, N500 and N200 remain legal tender until December 31.
The CBN’s statement came a few hours after a statement from Aso Villa quoting President Muhammadu Buhari as saying he did not direct the CBN and the Attorney-General of the Federation not to comply with the Supreme Court judgement.
