Supreme Court Order: Ecobank, Polaris, Others Reject Old Naira Notes

By The Evangelist News edition, February 13, 2023.

Market women, men and other customers of some banks were disappointed on Monday in Akure, the Ondo State capital as their banks rejected the old Naira notes they wanted to deposit despite Supreme Court ruling stopping the Central Bank of Nigeria (CBN) from implementing the February 10, 2023 deadline for swapping of old Naira notes for the newly redesigned Naira notes.

Some of the aggrieved customers, who spoke with our correspondent, revealed that their banks rejected the old Naira notes they presented for deposit.

At Ecobank, Arakale Branch, Akure, the customers said the tellers rejected the old Naira notes when they presented them at the counter.

Likewise at Polaris Bank, Adegbola Junction Branch, Oyemekun Road, customers were shocked when the tellers refused to collect old Naira notes they brought for deposit.

Some commuters were confused and had to trek to their destinations when motorists and motorcycle riders rejected old Naira notes.

The Supreme Court had on Wednesday last week ruled that the Federal Government and CBN should not implement the February 10, 2023 deadline of old N200, N500 and N1000 notes having been dragged before the Apex court by Kaduna, Kogi and Zamfara state governments