Nigeria’s apex bank has announced that Old banknotes remain legal tender until December of 2023.
This, according to Isa AbdulMumin Ag. Director, Corporate Communications, is in keeping with the Supreme Court ruling to allow the old notes circulate along side the new ones.
This was contained in a statement signed by AbdulMumin late Monday.
It read, “In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.”
“Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and 1000 banknotes remain legal tender alongside the redesigned banknotes til December 31, 2023. Consequently, all concerned are directed to conform accordingly.”
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