The apex bank warned that spraying, selling, squeezing, and defacing remains an abuse of the naira.
Mr Williams said that the command had uncovered plans by some groups to launch vicious attacks in some parts of Ibadan metropolis.
The council however, asked the CBN governor, Godwin Emefele, to ensure the new naira notes are available or recirculate the old notes to ease the current hardship in the country.
“The design of N200, N500 and N1,000 will no longer be accepted as a legal tender after Friday 10 February 2023.”
Mr Monguno made the observation when he appeared before an ad hoc committee of the House of Representatives on change of currency and cashless policy.
One of Union Bank officials, who spoke in anonymity, said that there was no point opening for customers when there was no funds.
Mr Tinubu Nigerians were bearing the brunt of the policy because it was poorly implemented.
![Bola Ahmed Tinubu [Credit: BAT]](https://gazettengr.com/wp-content/uploads/Bola-Ahmed-Tinubu-2-2.png)
The CBN had initially set a January 31 deadline for the old notes and eventually extended it to February 10 following the continuous scarcity of the new notes.
Some political parties had sought the order from the court, naming president Buhari, CBN, Godwin Emefiele and 27 banks as defendants.
The Edo governor said, “As a government, we do not have a problem with the policy,” and asked that the policy “be encouraged”.
