The Central Bank of Nigeria (CBN) has issued a press release debunking rumors that the old series of N200, N500, and N1,000 banknotes will cease to be legal tender by December 31, 2024.
Thank you for reading this post, don't forget to subscribe!According to the CBN, these claims are false and aimed at disrupting the country’s payment system. The bank reassured the public that the old series of banknotes will continue to be legal tender alongside the redesigned versions, indefinitely.
This clarification is in line with the Supreme Court of Nigeria’s order on November 29, 2023, which granted the prayer of the Attorney-General of the Federation and Minister of Justice to extend the use of old Naira banknotes ad infinitum.
Below is the full text:
