CBN Speaks on New, Old Naira Notes Cash Swap Programme After Supreme Court Order

[Oluwaseun Samuel]

The Central Bank of Nigeria (CBN) has decided on the cash swap programme for new and old naira notes The programme allowed residents of rural and unbanked areas to exchange old naira notes for new ones. Following the Supreme Court order, the CBN has announced that the programme will no longer continue.
The CBN’s termination of the cash swap programme occurred precisely nine days after Legit.ng reported the Supreme Court’s extension of the old 500 and 1,000 naira notes until December 31, 2023. While there has been no official response from the federal government or CBN regarding the judgment, indications suggest it will be adhered to.

 

• This topic was modified 1 year, 9 months ago by Oluwaseun Samuel.
• This topic was modified 1 year, 9 months ago by Oluwaseun Samuel.

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