Old Naira notes remain legal tender till December 31 – CBN

The Central Bank of Nigeria has said that the old N200, N500 and N1,000 notes remain legal tender until December 31, 2023.

The acting Director of Corporation Communications of the CBN, Isa Abdulmumin, made this known in a statement.

It said the old notes will be in existence with the new ones until December 31, 2023 as directed by the Supreme Court.

In the statement late on Monday, Abdulmumin said: “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.

“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.”