BREAKING: Old, new naira notes remain legal tender – CBN

BREAKING: Old, new naira notes remain legal tender – CBN

The Central Bank of Nigeria just dropped a note instructing all its branches nationwide to keep pumping out various types of old and new banknotes for the banks.

This move is to make sure there's enough cash flow, especially with reports of shortages in big cities lately.

They made this clear in a statement signed by Isa AbdulMumin, the Director of Corporate Communications. And guess what? They're emphasizing that every single banknote they've issued is totally legit and should not be rejected by anyone.

Legally speaking, they're making it crystal clear that all these notes are good to go, as per the CBN Act of 2007.

The CBN is telling its branches to keep the flow going, making sure banks get their hands on enough old and redesigned notes to hand out to customers.

They're being super clear: don't turn your nose up at any naira note – it's all legal tender, folks!

They're also nudging us not to panic and start hoarding cash. Instead, they're saying, "Hey, guys, there's enough money to keep things rolling smoothly."

Plus, they're pushing for more use of non-cash payment methods to ease the pressure on physical cash.

Seems like they're trying to keep the peace and make sure everyone's got enough cash to keep the wheels of the economy turning!

Watch the video short below