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BREAKING: Old Naira Notes Still Legal Tender Till Dec. 31 â€” CBN Declares

Posted by: Quickresponse | March 14, 2023

The Central bank of Nigeria (CBN) declared on Monday that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till Dec. 31, 2023.

It said in a statement issued by its Acting Director, Corporate Communications, Alhaji lsa AbdulMumin, that the decision was reached at a meeting of the Bankers Committee.

â€œIn compliance with established tradition of obedience to court orders the CBN as a regulator and Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3.

â€œAccordingly, the CBN met with the Bankers Committee and has directed that the old N200, N500 and N1,000 banknotes remain legal tender alongside the redesigned banknotes till Dec. 31, 2023.

â€œConsequently, all concerned are directed to conform accordingly,â€ the CBN stated. (NAN)

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Source: News Express