Lagos, Feb. 16, 2023 – President Mohammadu Buhari has extended the duration for the circulation of the old N200 notes by additional 60 days.
He said the old N500 and N1000 old notes had seized to be legal tender since February 10, 2023.
President Buhari, who made the announcement in a nationwide broadcast on this morning, said that the old N200 notes would circulate until April 10, 2023.
He said that the old N200 notes would circulate alongside the new N200 notes until April 10 when they would no longer be legal tender.
The President said that extension granted for circulation of the N200 old was part of measures to ease difficulties associated with the implementation of the naira redesign policy.
The Global Business News (GBN) reports President Buhari’s pronouncements this morning were at variance with the Supreme Courts directive on Wednesday that old notes should still circulate pending the final determination of the case before it on naira redesign policy. (GBN)
