CBN restates validity of N1000, N500, N200 as legal tenders indefinitely
This was made known in a press release by the Apex bank on its official page on X, signed by its Ag. Director of Corporate Communications, Hakama Sidi Ali.
“The CBN wishes to reiterate that the subsisting ruling granted by the Supreme Court on November 29, 2023, permits the concurrent circulation of all versions of N1000, N500 and N200 denominations of the naira indefinitely.” The statement read.
Further stating that versions of the naira, including the old and new designs of N1000, N500 and N200 as well as commemorative and previous designs of N100 denominations would remain valid and continue to be legal tenders without any deadline.
The statement laid to rest rumors circulating that December 31 was the phasing out of the old naira notes.
“We therefore advise the public to disregard any claims that the old series of the aforementioned will cease to be legal tenders on December 31, 2024” it said.
The CBN urged Nigerians to continue to accept naira notes, both the old and the redesigned for daily transactions and also embrace alternative modes of payments such as e-channels, reducing pressure on cash usage.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Kaduna govt constructs airport-style bus terminals to boost public transport
The Kaduna government says its ultra-modern Eastern Terminal, designed like an airport terminal, will transform transportation and create thousands of jobs upon completion.
Economy
Naira gains N4.80 at official market, trades at N1,375.30 per dollar
The naira on Tuesday appreciated at the official market, trading at N1,375.30 to a dollar.
States
Tinubu advised me never to negotiate with criminals, Gov Ododo says
“I don’t play with criminals, and I don’t negotiate with them. I can tell you that, as far as Kogi State is concerned, we don’t have a department for ransom payment,” he said.
Heading 1
U.S. has spent $37.5 billion on Iran war: Hegseth
“The estimate we have as of today is $37.5 billion,” Mr Hegseth said.
Lagos
Slain Lagos NURTW organising secretary buried amid tears
Mr Ajiboye died days after he was attacked by gunmen.
