Old, Redesigned Naira Notes Remain Valid – CBN
The Central Bank of Nigeria (CBN) has reaffirmed that the old ₦1000, ₦500, and ₦200 banknotes remain valid as legal tender, addressing misinformation about their status.
In a statement released on Friday and signed by Mrs Hakama Sidi-Ali, the Acting Director of Corporate Communications, the apex bank clarified that the Supreme Court ruling of 29 November 2023 permits the indefinite circulation of both the old and new versions of these denominations.
The CBN emphasised that all variants of the naira including the old and redesigned ₦1000, ₦500, and ₦200 notes, as well as commemorative and previous designs of the ₦100 note continue to be valid for transactions.
The statement also dismissed claims that the old series of these denominations would cease to be legal tender by 31 December 2024, assuring the public of their continued validity.
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