CBN Speaks On Deadline Of Old Naira Notes

News Update

THE Central Bank of Nigeria (CBN) has reassured the public that there is no set deadline for the use of old Naira notes.

The assurance was contained in a statement issued by Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications.

This clarification addresses false reports circulating that the N200, N500, and N1,000 notes would no longer be valid after December 31, 2024.

The bank affirmed that the Supreme Court’s ruling from November 2023, which extended the use of old banknotes indefinitely, remains in effect.

“The order of the Supreme Court on November 29, 2023, extending the use of old banknotes indefinitely remains in force,” the statement read.

Nigerians are advised to ignore any contrary reports and continue using both old and new denominations.

Additionally, the CBN encouraged citizens to adopt digital payment methods for greater convenience.

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