The Supreme Court adjourned the suit of challenges the Naira swap policy of the Central Bank of Nigeria till next Wednesday 22nd February, 2023.

Already the Central Bank of Nigeria (CBN) has declared that the old naira notes is no longer be recognized as legal tender, although the Supreme Court has order to hold it till they look to it and make decision for this matter.

On Tuesday the Apex bank has released the guidelines for deposit of old naira notes at any of there branches across the country from February 15 to 17.

Because currently now the Nigeria people is confused if they will use the old naira notes or not.

This is the kind of issues of shortage of new notes, even the new and old naira notes scarce, and it has affected the country economics.

Even sotay people they enter bank just to collect one coin, so that it feels like they have money with them.

The new guidelines give by CBN

Regular banks can’t collect old naira notes again, because of that, the CBN has arrange how you can deposit your old naira notes in to bank.

Although, the process suppose end on 17 February this week.

  • You most first enter online postal to fill application form, after that you most have number along side with your money you go CBN.
  • If you can’t fill your online application, you can visit bank to fill it.
  • Your bank account most verified by law enforcement.
  • The suppose of that is to collect the money and collect the person bank details.

The way the process his, it can take person a whole one week.

The way this process his, another person can’t run it for you, as the person was expected the money for his account.

If the bank details is valid, the bank will return your money for you.

What the CBN want is the reference number for that application that you filled, bank verification number, government ID card and active bank account.

The problem that the new design notes policy cause

Tje new policy that the CBN bring cause many problems around the country, while some bank they hoard the Naira notes even some customers can’t has access to collect the new and old naira notes for ATMs machine and counter.

This makes some customers attacks some bank storage and protest was take place for part of the country.

For warri, one video show how bank staff they jump the fence because of the angry customers, cause by lack of cash to collect that make customers start to attack Bank staff.

One video show how customers they naked their self just to see money collect.

One video too, that show how annoying customers destroy ATM machine at Abeokuta Ogun state because of lack of cash to collect. Even some bank has shutdown just to guarantee their staff safety while some bank they close early and some take measure preventive against problem.

Some bank try to calm their customers down by buying soft drinks for their customers that was in the hall and also the people that is outside the ATM.

Both the bank and people they alert to hear from what the Mr President Muhammadu Buhari and Governor of CBN Godwin Emefiele will say.

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