In response to the Supreme Court order, some Deposit Money Banks (DMO) have begun releasing old N500 and N1000 notes to their customers.
According to news reports, a seven-member bench of the Supreme Court ruled last Friday that the old N200, N500, and N1000 notes are still lawful tender until December 31.
The apex also declared the Federal Government’s naira redesign program to be an insult to the 1999 Constitution in its judgement.
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According to report, inspections revealed that some commercial banks in Kano and Abuja have begun issuing the old N500 and N1000 notes.
While some Guarantee Trust Bank (GTB) branches released old notes, others, such as Polaris Bank in Abuja, had not begun as of the time this article was filed.
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