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Banks, Fuel Stations Turn Down Old Naira Notes, Disregards Supreme Court’s Order
Some commercial banks and fuel stations have started rejecting the old naira notes from customers, disregarding the ruling of the Supreme Court that restrained the Federal Government from enforcing the February 10 deadline fixed by the apex bank for the currency swap.
Findings on Monday indicated that banks refused to accept the old N1,000, N500, and N200 notes from depositors and point-of-service agents who flooded the bank to lodge their cash.
Point of service operators and other bank customers whose old naira notes were rejected, panicked as bank officials, who said they were acting on the Central Bank of Nigeria’s directive, remained adamant.
Also, lawyers and litigants at high courts in Lagos State were unable to file their court processes using the old naira notes for payment.
