Legal Tender: Residents Protest Over Old Naira Notes

Residents in Joju, Sango-Otta, Ado-Odo/Otta Local Government Area of Ogun State are protesting, on Tuesday, over banks’ refusal to collect old Naira Notes.

The Central Bank of Nigeria had on Monday declared through its Branch Controller in Bauchi State, Haladu Idris Andaza, that the old notes have ceased to be legal tender in the country.

It made it clear that the old notes can only be deposited at the branches of the CBN across the country and not the commercial banks.

“For the avoidance of doubt, we wish to state categorically that CBN is ready and is open to receiving all of those old notes based on certain conditions and criteria. Customers are free to come to the bank and deposit which they cannot do at the commercial banks anymore because the currency has ceased to be a legal tender since the 10th of this month.”

Due to this, Protesters trooped out en masse to register their grievances and challenge the decision of the banks.