UPDATE ON NAIRA SWAP : SEE CBN POSITION ON RUMOURS OF COLLECTION OF OLD #500 & #1000 FROM CUSTOMERS

18/02/23

SHINA J.O

Bank customers Trooped Out In Large Numbers to the Central Bank Of Nigeria office in Lagos Friday to make deposit of their old five hundred and one thousand naira notes .

The Situation eventually got out of Control when the crowd could not be managed by the concerned authorities.

Later in the day different rumours started flying in from some quarters that CBN has authorized Commercial Banks to Start Accepting the old Naira Notes, despite the live broadcast by the president Muhammadu BUHARI that Only #200 should be put out into circulation for the next sixty Days.

CBN has come out with a circular to confirm that they have not authorized such

The rejection of old Naira Notes and refusal by motorists and other business operators have sparked off reactions and riots in some states across the Country in the last few days.

On Friday,the situation got more serious in Lagos and neighboring Ogun State when Commutters got stranded at various bus stops creating an avenue for lawlessness to prevail.

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