The Central Bank of Nigeria has announced that the old naira notes remain legal tender until the 31st of December, 2023.
This was disclosed through a press statement by the Acting Director, CBN Corporate Communications, CBN, Isa AbdulMumin, on Monday.
“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, 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,” the statement reads.
It would be recalled that the Supreme Court had earlier ordered that the old naira notes be allowed to circulate side by side the new notes until December 31, 2023.
