Additionally, the House has urged the CBN to instruct commercial banks to immediately stop cash payments in old N200, N500, and N1,000 notes, instead focusing on the gradual collection of these outdated bills.
Furthermore, the lawmakers emphasized the need for the CBN to launch awareness campaigns to inform and prepare Nigerians for the upcoming deadline.
These resolutions followed a motion introduced by Hon. Afam Victor Ogene, a representative from Ogbaru Federal Constituency in Anambra State, during Thursday’s plenary session.
Read Also: Residents Seen Scooping Petrol From Fallen Tanker In Cross River Days After 181 Lost Their Lives During Similar Incident In Jigawa [VIDEO]
Ogene highlighted the challenges, frustrations, and controversies stemming from the CBN’s Naira Redesign Policy in 2023, which led to legal disputes and widespread hardship due to the unavailability of new currency notes.
He pointed out that, according to a ruling from the Supreme Court, the N200, N500, and N1,000 notes will no longer be considered legal tender or a medium of exchange in Nigeria starting January 1, 2025.
https://whatsapp.com/channel/0029VaihFajBadmT29ufud2Z
No Comments