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Legal Tender

In a landmark ruling, the Supreme Court of Nigeria has declared that both the old and new naira notes will continue to be legal tender until further notice. This decision effectively reverses the Central Bank of Nigeria’s (CBN) directive to phase out old naira notes by December 31, 2023. The court’s decision was based on […]

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 […]