CBN: Old, new naira notes remain legal tender


The Central Bank of Nigeria (CBN) has warned against the rejection of any bank notes it has issued in line with the provision of the CBN Act 2007.

This comes amidst fears that the old banknotes may cease to be legal tender by December 2023.

On March 3, the Supreme court had ordered that old N200, N500 and N1000 notes remain valid till December 31, 2023.

This was after 16 states of the Federation instituted a suit to challenge the legality or otherwise of the introduction of the policy.

In a statement issued on Wednesday and signed by its Director, Corporate Communication, Isah Abdulmunin, the apex bank said it has not ordered the withdrawal of the old notes.

The bank said, “There have also been reports of anxiety among some members of the public over the legality or otherwise of old Naira banknotes.

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