CBN EXTENDS VALIDITY OF OLD NAIRA NOTES INDEFINITELY
Written by Oyebamiji Idowu on November 15, 2023
The Central Bank of Nigeria has announced its intention to extend the validity of the old N200, N500, and N1,000 notes indefinitely.
This is as the apex bank declared its desire to extend the validity of old naira notes beyond any expiry date. According to the bank, it is working with the relevant authorities to vacate the subsisting court ruling on the same subject.
The bank disclosed this in a statement signed by the Director, Corporate Communications, Isa AbdulMumin.
This is the third statement the CBN has issued concerning naira notes in recent times. Earlier this month, it clarified that there was no scarcity of naira in the country. Later, it announced that every banknote remains legal tender and should not be rejected by anyone.