The Central Bank of Nigeria has extended the validity of the old N200, N500 and N1,000 notes indefinitely . “Thus, all banknotes issued by the Central Bank of Nigeria, in accordance with Section 20(5) of the CBN Act 2007, will continue to remain legal tender, ad infinitum. “The Central Bank of Nigeria is working with the relevant authorities to vacate the subsisting court ruling on the same subject. “Accordingly, all CBN branches across the country will continue to issue and accept all denominations of Nigerian banknotes, old and redesigned, to and from deposit money banks. “The general public is enjoined to continue to accept all Naira banknotes (old or redesigned) for day-to-day transactions and handle these banknotes with utmost care, to safeguard and protect the lifecycle of the banknotes.

Source: Punch November 15, 2023 00:54 UTC