Following the Central Bank of Nigeria’s (CBN) declaration that the old naira notes would remain valid indefinitely, there have been a number of responses.
The apex bank declared that it had extended the old N200, N500, and N1,000 notes’ validity indefinitely, according to Anaedoonline.ng.
This information was released in a statement headlined “CBN To Allow Old Design Naira Banknotes As Legal Tender, Ad Infinitum” by Isa AbdulMumin, Director of Corporate Communications at the apex bank.
According to Abdulmumin, the choice was made to avoid a recurrence of the policy’s previous implementation experiences and to comply with worldwide best practises.
Remember that the old designs of the N200, N500, and N1000 denominations were to stop being accepted as legal currency by specific deadlines, which were announced by the apex bank in October 2022.
Nigerians have praised Yemi Cardoso, the new governor of the CBN, for extending the old naira notes’ validity indefinitely in the wake of the incident.
View a few of the responses below.
@bushman_paul wrote: “Some people lost their lives because hospitals would not accept transfers and cash was hard to get, even in emergency conditions. Emefiele is supposed chop better cane normally.”
@_fola1 wrote: “I know my tinubu will do that. But Emefiele or Omofere, you will suffer the way you suffer us for that old not and new note stuff.”
@Ifefineboy wrote: “Everybody know say dey brought out new Notes that time of Election because they wanted to frustrate Tinubu.”
@yakymoney wrote: “So all resources spent on printing new notes are wasted. These people even went as far as shredding the old notes 🤦🏾♂️ plus all the stress they put us through.”
@VictorAlab83054 wrote: “In all this thing is happening in the country they want to add currency saga they should just advise yourself so that I won’t cause trouble inside the country.”
@sparkybwoi wrote: “Buhari no been wan leave office na why e bring new notes.”
@abubillaal wrote: “Emefeile just punish us for nothing.”
@simeontobi0 wrote: “So dem just waste money print new notes?”
@Nightmare_mfs wrote: “After people don kpai ontop this same matter…. This life no balance.”
@jesusmyking9 wrote: “This country is a mess…..old and new note in the market. This will cause the highest inflation ever.“
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