CBN finally confirms – Old N200, N500, and N1,000 banknotes Remain Legal Tender
The Central Bank of Nigeria (CBN) has finally directed Banks that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.
CBN gave the directive in a Press Release coming 10 days after the Supreme Court judgement of March 3, 2023. The letter was signed by Isa AbdulMumin, Ag. Director, Corporate Communications of CBN.
CBN Press Release
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 (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court judgement 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.
Download the CBN Press Release HERE
READ all the news on New Naira Notes & Cashless Policy HERE
Check out all PensionNigeria Financial Blog posts here
Support PensionNigeria financially with N1,000 per Month HERE, or with any amount HERE
Empower us to do more independent analysis of the Pension Industry in Nigeria
Subscribe to PensionNigeria Daily News Broadcast on WhatsApp, just send “Subscribe” to 08160052802, PLEASE ensure you also save 08160052802 to your contacts as “PensionNigeria” to enable you receive the PensionNigeria News Broadcast.
Subscribe to PensionNigeria Daily Newsletter and get Today’s Top Pension News delivered straight into your email box every Evening.
If you have subscribed before and you still do not receive our Newsletter, please check your “Spam Folder”, if you find our Newsletter there, mark it as “NOT SPAM” or move it to your Inbox
Pension is Your Right,
An Insurance for Old Age
Follow PensionNigeria on Social Media LinkedIn Twitter Instagram Facebook YouTube
