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Today's Headline: Collecting Old Naira Notes From Banks Risky-Banker warns, Old Notes Are Legal Tender-CBN

Collecting old naira notes from banks risky – Banker warns.

Photo credit: Daillypost

Indications have emerged that customers who are accepting old N1000 and N500 notes from their banks are doing so on their own.This is because such customers would not be able to deposit the same old notes in banks at the moment until the Central Bank of Nigeria (CBN) orders commercial banks to start paying and receiving the old notes.

Following the ruling of the Supreme Court last week that the old notes should remain legal tender till December 31, 2023, some commercial banks have started paying customers the old notes.A bank official, who does not want to be named, confirmed to DAILY POST that some banks paid the old naira notes on Monday and Tuesday.

However, he said some stopped the payment when they noticed it may trigger another crisis as it was not yet authorised by the CBN.

While some paid through the Automated Teller Machines (ATM), other banks paid the old notes over the counter to customers.

The bank official told DAILY POST banks will not allow any deposit in the old notes unless the CBN gives further directives, saying those who had generated CBN codes to make deposits earlier would no longer be allowed to make another deposit.

Old, new notes are legal tender – CBN reveals.

Photo credit: Daillypost

The Central Bank of Nigeria said that both old and new notes are now legal tender.The Acting Director of Corporate Communications CBN, Dr Isa Abdulmumin disclosed this on Tuesday.

He affirmed that commercial banks have started issuing both the old and new notes to their customers.

But insisted that the apex bank is yet to issue an official statement.

Photo credit: Google

He said, “Banks are paying old notes as well as new notes. They are all legal tender.

“Yes, the CBN has not issued an official statement on the issue. Anyone banks give to you, you can collect. We just want to make life easy for Nigerians.”

Anti-party activities: LP dissolves Rivers excos.

photo credit: Punchng

The leadership of the Labour Party, on Tuesday, announced the dissolution of the executive council of its Rivers State branch with immediate effect ahead of March 11 governorship and state Houses of Assembly elections.

A statement signed by the National Chairman of the party, Julius Abure, said the LP officials in Rivers State were axed for gross anti-party activities and corruption in the management of party’s funds.

The dissolution came in the wake of reports that the Rivers State LP had collapsed its structure to endorse the governorship candidate of the Peoples Democratic Party, Sim Fubara.

But rising from an emergency meeting of the National Working Committee in Abuja, Abure said the dissolution of the Rivers exco was in the best interest of the party and the Obidient movement.

Ganduje pardons 12 condemned inmates, commits 6 others to life in prison.

Photo credit: The Sun

Kano State Governor, Abdullahi Umar Ganduje has pardoned 12 inmates on death row in the state.

The governor, equally committed the sentence of six orders to life imprisonment. The Public Relations Officer, Nigeria Correctional Service, Kano Command, Musbahu Lawan, who made the disclosure in a statement yesterday, said the governor equally pardoned four female inmates with long term sentences, on account of their good behaviour, following the recommendation of the correctional service management.

The statement noted that some beneficiaries of the state government gestures had spent the past 25 years awaiting execution.

In his remarks, Chairman of the State Prerogative of Mercy, Abdullahi Garba Rano, appreciated the governor for exercising the powers of his office on the advice of the council for the prerogative of mercy.

Photo credit: Google

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