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BREAKING: Banks complies with Supreme Court, begin paying Nigerians old N500, N1000 notes



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In compliance with the Supreme Court judgement last Thursday which validates use of old naira notes till 31st December, 2023, some banks on Monday resumed payment of old bank notes in the country.

In Kano and Abuja, checks showed that the old N500 and N1000 notes are being paid to bank customers.

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However skepticism of paying old naira note is observed at Polaris Bank in Abuja.

The payment of old naira notes is recorded at the Guarantee Trust Bank in its branches visited in Abuja on Monday afternoon.

A bank staff confirmed to journalists that only the old N200 notes were still being issued, “as we do not have any new directive on what to do yet.”

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Sources at GTB said they received a directive from their management to begin paying old notes in their vault, “the problem is that taking the old note from customers will require the CBN form as we don’t have any directive in that regard.

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