Currency Outside Banks (CoB) increased by 66% based on Month-on-Month, N1.4 trillion in March, up from N843 billion in February 2023. This reflects the impact of the implementation of the Supreme Court order that old N200, N500, and N1,000 notes remain in circulation till December 31, 2023.
Tag:
cbn
10 states have entered into a fresh legal battle against the federal government and the Central Bank of Nigeria (CBN). This is coming after the federal government and the Central Bank of Nigeria (CBN) failed to honour the Supreme Court’s March 3 ruling extending the validity of old Naira banknotes.
The CBN has categorically denied extending the deadline on N500 and N100 old notes. The Central Bank of Nigeria (CBN) has classified a report that it has extended the expiration date of old N500 and N1,000 banknotes until May 1 as fake news.