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November 30, 2023

Confusion, residents stranded as Banks reject old naira notes

There is a confusion today as Commercial banks in Akure, the Ondo State capital, have rejected the old notes of N200, N500 and N1000 denomination in violation of the Supreme Court’s order and that of the Council of State.

SUNSHINETRUTH gathered that many customers who went to the banks to deposit, were disappointed when the banks officials refused to collect the old notes.

At the Jaiz bank, an official advised customers to take the old notes to the Central Bank of Nigeria.

An official of an old generation bank who spoke on anonymity said they were acting on instruction from the Central Bank of Nigeria.

Other banks visited were the UBA, FCMB, First Bank and the Zenith bank.

Some traders in Akure also refused to collect the old notes, left many residents in the state of confusion, attributing it to the refusal of banks to collect old notes in their possession.

They threatened that they would resume their protests against the CBN and banks if the situation is not addressed.

A resident of Akure, “Mr Governor should wage in. These banks didn’t open on Wednesday, Thursday and Friday for people to deposit their old notes, now some banks are rejecting it.

“This may cause unrest if not cautioned. Governor of Kano shut down a renown shopping mall as result of rejection of old notes.”

A resident of Owo in Ondo State, Owamoyo Tolani Okolo said, “the remaining #1700 old notes with me rejected. I trekked from Upenmen to Ikare junction, still trekking to Idasen-Owo. We shall overcome!”

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