The president of the union, Joe Ajaero, gave the directive at a press briefing in Abuja on Wednesday.
Ajaero said the order became imperative following the expiration of a one-week ultimatum given to the CBN to make naira notes available for Nigerians.
It would be recalled that the Supreme Court, in a judgment delivered on March 3, extended the validity of the old naira notes to December 31, 2023.
The apex bank, in a statement issued, on Monday, March 14 by its acting Director, Corporate Communications, Isa AbdulMumin, directed Deposit Money Banks (DMB) in the country to comply with the Supreme Court judgment.
“Accordingly, the CBN met with the Bankers’ Committee and directed that the old N200, N500, and N1,000 banknotes remain a legal tender alongside the redesigned banknotes till December 31.
“Consequently, all concerned are directed to conform accordingly,” CBN had said.
The apex bank’s directive came on the day President Muhammadu Buhari said the CBN Governor, Godwin Emefiele, needed no clearance from him (Buhari) to obey the judgment of the Supreme Court.
President Buhari added that he didn’t order Emefiele to disobey the apex court’s order, extending the validity of the old naira notes.
Scores of Nigerians have called on the apex bank to release more naira notes to commercial banks to ease hardship in the country, stressing that improvement has not been seen in terms of the availability of the notes in the affected denominations.