CBN announces old naira notes as legal tender.

The Central Bank of Nigeria (CBN), on Monday, said that the old N200, N500 and N1,000 banknotes remain legal tender till Dec. 31.

According to a statement by Isa AbdulMumin, CBN’s Acting Director, Corporate Communications, this is in compliance with the March 3 judgment of the Supreme Court, after the decision was reached at a meeting of the Bankers Committee.

The presidency, in a statement on Monday, absolved the president from non-compliance with the ruling as Malam Garba Shehu, media aide to the President, said President Buhari never told the CBN governor, Godwin Emefiele and the Attorney-General of the Federation, Abubakar Malami to defy any court order.

Shehu said the directive of the president, following the meeting of the Council of State, is that the CBN must make available for circulation all money that is needed and nothing has happened to change the position.