Abuja, Dec. 14, 2024 – The Central Bank of Nigeria (CBN) says the old Naira notes of N1000, N500 and N200 are still legal tender and remain valid.
The apex bank made the clarification in a statement on Friday.
According to the statement issued by Mrs Sidi Ali Hakama, its Acting Director Corporate Communications, the clarification became necessary to clear the current misinformation regarding the validity of the old ₦1000, ₦500, and ₦200 notes.
“In line with the Bank’s previous clarifications and to offer further assurance, the CBN wishes to reiterate that the subsisting Supreme Court ruling granted on November 29, 2023, permits the concurrent circulation of all versions of the ₦1000, ₦500, and ₦200 denominations of the Naira indefinitely.
“For the avoidance of doubt, all versions of the naira, including the old and new designs of N1000, N500, and N200 denominations, as well as the commemorative and previous designs of the N100 denomination, remain valid and continue to be legal tender without any deadline.
“We, therefore, advise the public to disregard any claims that the old series of the aforementioned banknotes will cease to be legal tender on December 31, 2024.
“We urge Nigerians to continue accepting all Naira banknotes (both old and redesigned) for their daily transactions and to handle them with care to ensure their longevity,” the CBN said. (GBN)
