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CBN CLARIFIES NO DEADLINE FOR CIRCULATION OF OLD NOTES

The Central Bank of Nigeria (CBN) has clarified that there is no deadline for the circulation of old Naira notes, dispelling rumors that the N200, N500, and N1,000 banknotes will cease to be legal tender by December 31, 2024.

In a statement issued by Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications, the CBN stressed that these claims are false and intended to cause confusion within the country’s payment system.

She urged the public to disregard any information suggesting otherwise, emphasizing that all Naira banknotes will remain legal tender indefinitely. The CBN also encouraged Nigerians to embrace digital payment methods to reduce dependency on cash.

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