The Central Bank of Nigeria (CBN) has clarified that there is no deadline over the validity of the old ₦1000, ₦500, and ₦200 banknotes currently in circulation
It therefore advised Nigerians to disregard the misinformation regarding the validity of the old naira notes
In line with the Bank’s previous clarifications and to offer further assurance, the CBN
wishes to reiterate that the subsisting Supreme Court ruling granted on November 29, 2023 permits the concurrent circulation of all versions of the ₦1000, ₦500, and ₦200 denominations of the naira indefinitely.
A statement issued by its Acting-Director, Corporate Communications, Sidi Ali Hakama, on Friday, informed that all versions of the naira, including the old and new designs of N1000, N500, and N200 denominations, as well as the commemorative and previous designs of the N100 denomination, remain valid and continue to be legal tender without
any deadline.
The apex bank, therefore, advises the public to disregard any claims that the old series of the aforementioned banknotes will cease to be legal tender on December 31, 2024.
“We urge Nigerians to continue accepting all Naira banknotes (both old and redesigned) for
their daily transactions and to handle them with care to ensure their longevity, ” the statement said
“Furthermore, the general public is encouraged to embrace alternative modes of payment, such as e-channels, to reduce pressure on using physical cash. It advised