CBN DEBUNKS SPECUATIONS ON OLD NAIRA NOTE DEADLINE

October 25, 2024

The Central Bank of Nigeria has confirmed that old N200, N500 and N1000 bank notes remains legal tender,debunking any deadline for it circulations.

The spokesperson of CBN, Sidi Ali Hakama disclosed this in a statement,following speculations that the old Naira notes will cease to be legal tender from December 31, 2024.

However, the apex bank clarified that the claim is false, directing all its branches to continue to issue and accept all denominations of Nigerian banknotes, old and re-designed on all withdrawals and deposits.

Recall that, Supreme Court of Nigeria on November 29, 2023, granted the appeal of the Attorney-General of the Federation and Minister of Justice to extend the use of old Naira banknotes indefinitely.

Written by: Ella Adike

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