By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: Banks Commence Issuing of Old N500, N1,000 Notes to Customers
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | Banks Commence Issuing of Old N500, N1,000 Notes to Customers

News

Banks Commence Issuing of Old N500, N1,000 Notes to Customers

Tare Magbei
Tare Magbei
Published: June 14, 2025
Last updated: June 14, 2025
2 Min Read
Share
Banks Commence Issuing of Old N500, N1,000 Notes to Customers | Daily Report Nigeria
SHARE

Some commercial banks across the country have started paying out the old N500 and N1,000 notes to customers.

The development is a follow up to the Supreme Court judgment extending the validity of the Central Bank of Nigeria’s currency redesign policy to December 31

Guaranty Trust Bank, Polaris Bank led a list of commercial banks that issued old naira notes to customers on Monday in Abuja and Kano.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

A banker told Daily Trust was that the decision to issue the old naira notes is based on a directive their management.

“The problem is that taking the old notes from customers will require the CBN form as we don’t have any directive in that regard,” the staff added.

Neither has the CBN issued a bank-wide circular instructing Deposit money banks to comply with the apex court’s judgment, nor as the presidency reacted to the ruling.

Daily Report Nigeria recalls that a 7-member panel of justices presided over by Justice Inyang Okoro, on Friday, voided the directive by President Muhammadu Buhari to the CBN for the redesigning and withdrawal of old notes of N200, N500 and N1,000, without consultation with the states, the Federal Executive Council and the National Council of State and other stakeholders, was unconstitutional.

The apex court observed that no reasonable notice was given before the implementation of the policy as provided under the CBN Act.

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:CBNNaira Notes
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

CHAN 2024: Nigeria, Senegal Lock Horns in Group D | Daily Report Nigeria
CHAN 2024: Nigeria, Senegal Lock Horns in Group D
Sports
Again, NNPC Increases Fuel Price
Petrol Price Hits N955/Litre in Abuja as NNPCL, Marketers Raise Rates
Business
'State of Emergency Because Of One Man? Shameless!' - Actress Hilda Dokubo
Over Half of 2024, 2025 Capital Projects Allocated to Northern Nigeria — Budget Office DG
Business
Demehin Bags ₦30m, Apartment as Ondo Celebrates Super Falcons Star | Daily Report Nigeria
Demehin Bags ₦30m, Apartment as Ondo Celebrates Super Falcons Star
Sports
Troops Discover and Detonate 14 IEDs in Borno | Daily Report Nigeria
Troops Discover and Detonate 14 IEDs in Borno
Metro

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

goodluck-jonathan
News

Ramadan: Goodluck Jonathan Sends Message To Muslims

June 14, 2025
Wedding Guests Shot Dead for Playing Music During Reception | Daily Report Nigeria
News

Wedding Guests Shot Dead for Playing Music During Reception

June 14, 2025
Domestic Debt: How Delta State Borrowed ₦215bn in 3 Months | Daily Report Nigeria
News

Domestic Debt: How Delta State Borrowed ₦215bn in 3 Months

June 13, 2025
Why I Wished Queen Elizabeth II a Painful Death - Professor Uju Anya
News

Why I Wished Queen Elizabeth II a Painful Death – Professor Uju Anya

June 15, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?