A report just reaching us says the Central Bank of Nigeria (CBN) has confirmed that the old N200, N500, and N1,000 notes will remain valid until December 31, 2023.
A statement by the Acting Director of Corporate Communications of the CBN, Isa AbdulMumin, says the decision to extend the validity of the old Naira notes is sequel tothe March 3, 2023 Supreme Court ruling.
“Accordingly the Central Bank of Nigeria (CBN) met with the Bankers’ Committee and directed that the old N200, N500, and N1000 banknotes remain legal tender alongside the redesigned banknotes until December 31, 2023.
“Consequently, all parties are directed to conform accordingly”, the statement adds.
It will be recalled that President Muhammadu Buhari recently absolved himself of any responsibility for the apex bank’s failure to obey the ruling of the nation’s highest court.
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