The Central Bank of Nigeria (CBN) has emphasized that there is no deadline in place for the use of old Naira currency.
Contrary to rumors, the apex bank confirmed that the N200, N500, and N1,000 banknotes will remain valid legal tender beyond December 31, 2024.
Mrs. Hakama Sidi Ali, the Acting Director of Corporate Communications, said that the CBN is calling these claims fake and meant to confuse the country’s payment system.
It reads.
“The order of the Supreme Court on November 29, 2023, extending the use of old banknotes indefinitely remains in force,”
Mrs. Ali reminded us that the CBN said we can still use both the old and redesigned Naira bills.
She told everyone to ignore any info that says otherwise, saying that Naira banknotes will always be valid money.
The CBN also said Nigerians should start using digital payments to rely less on cash.