Supreme Court Judgment Banks yet to dispense old notes in Osun. Despite the lack of fresh Naira notes, Osogbo residents have continued to face a cash shortage.
This is in spite of a Supreme Court decision on March 3, 2023, which extended the use of the previous N200, N500, and N1,000 notes until December 2023.
DAILY POST said on Monday that several commercial banks in the state capital lacked funds to provide to their clients.
The two banks that were spared from the rule were Ecobank and Zenith Bank.
Customers at the aforementioned banks received tally numbers to let them access the ATMs.
Ayodele Oreoluwa, a bank client, expressed his joy at the Supreme Court’s decision to extend the deadline for using old Naira notes until December in an interview with this medium.
“I was overjoyed that there would be money in the banks. The fact that banks still lack funds to provide to their consumers made me unhappy this morning, he remarked.
Comfort Adeniran, a different client, remarked, “The Central Bank of Nigeria (CBN) could kindly bring back the old naira notes, so that we may have money to spend after all, the policy has been revoked.
“These folks ought to show us kindness.”
It was discovered that the failure of the commercial banks to receive a directive from the Central Bank of Nigeria (CBN) ordering them to carry with the Supreme Court decision was the cause of the delay in the issuing of the old notes.