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CBN declares old N200, N500, N1,000 naira notes legal tender

The Central Bank of Nigeria (CBN) has declared the old naira notes N200, N500 and N1000 remain legal tender until December 31, 2023.

This was revealed by the spokesperson of the apex bank, Isa Abdulmumin, CBN spokesperson in a statement on Monday, March 13, 2023.

“In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations 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 ruling of March 3, 2023,” the statement reads.

“Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

“Consequently, all concerned are directed to conform accordingly.”

Details shortly…

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