Some commercial banks reject old naira notes, despite Supreme Court injunction. As a result, some oil marketers threaten to close down their filling stations across the country.
NewsedUP Reporter gathered that some banks sent circulars to some of the filling stations, advising them to stop collecting the old naira notes. These banks do not know whether the Central Bank of Nigeria would phase out the old naira notes as declared earlier.
According to Sunday Punch, many traders in the Federal Capital Territory, Ogun, and Lagos states had started rejecting the old N1,000, N500, and N200 notes. The traders claimed that banks rejected old notes collected from sales made on Friday morning.
The development left many residents stranded, with many having to find means to do bank transfers.
The Secretary of the Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, Mohammed Shuaibu, explained why some stations rejected the old notes. He also said, “There is a severe crisis now; bankers are not helping the system, and
“If this should continue, it will lead to a serious problem. The banks told us not to accept old notes because they would not collect them from us. So many of our members are now closing sales.”
