The Central Bank of Nigeria (CBN) has refuted claims that the old N200, N500, and N1,000 banknotes will no longer be legal tender after December 31, 2024.
In a statement released on Thursday by Acting Director of Corporate Communications, Sidi Hakama, the CBN reaffirmed that the Supreme Court of Nigeria’s order from November 29, 2023, allowing the continued use of these notes remains in effect indefinitely.
The CBN emphasized that misinformation suggesting a deadline for the old notes is false and designed to disrupt the country’s payment system.
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The bank reiterated that all denominations of Nigerian banknotes, both old and redesigned, will remain valid for transactions.
Nigerians are encouraged to disregard these misleading claims and to continue using all naira banknotes for their daily transactions while also exploring alternative payment methods to ease the reliance on physical cash.
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