Banks Reissue Old 500, 1000 Naira Notes, Just As Traders Reject Old Notes In Ilorin 

Written by on March 9, 2023

Some Commercial banks in Ilorin the Kwara state capital have commenced issuing old 500 and 1000 notes to customers.

However, traders in Ilorin have refused to collect the old note saying they are waiting for the CBN governor Godwin Emefiele or president Muhammadu Buhari to speak on the matter.

A trader in Oja tuntun market, Mrs Suaib Isiaka said collecting the old note portend danger to her business.

Meanwhile, some top banks officials who spoke with our correspondent Olarotimi Oshin under a condition of anonymity said the old currency which was previously issued out to customers were returned by the customers.

According to the top banks officials, there is no option than to withhold the reissuing of old 500 and 1000 naira notes pending the response from the CBN governor.

It would be recalled that the Supreme Court has passed judgment saying the old naira note should be in circulation till 31st of December 2023.

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