The Central Bank of Nigeria (CBN) says the old N200, N500 and N1000 notes remain legal tender until December 31, 2023.
Isa Abdulmumin, the CBN spokesperson, announced the recent development in a statement on Monday.
Also, CBN said that the old notes shall coexist with the new notes till the December deadline.
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| Update from the CBN on Naira Notes The statement reads: "In compliance with the established tradition of obebience to court orders and sustenance of the Rule of law Principle that characterized the Government of President Mohammadu Buhari and by extension the operation of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court Judgement of March 3, 2023. "Accordingly, the CBN met with the Bankers' Committee and has directed that the old banknotes remain legal tender alongside the redesigned Banknotes till December 31, 2023. "Consequently, all concerned are directed to confirm accordingly" |
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