The Central Bank of Nigeria (CBN) has issued a directive to all banks and Nigerians regarding the acceptance of old and redesigned Naira notes.
In a statement by its Acting Director of Corporate Communications, Mrs Sidi Hakama, the CBN emphasized that all banknotes, including the old and redesigned ones, remain legal tender.
This directive from the apex bank comes after the Supreme Court granted the federal government’s request to lift the December 31 deadline for the usage of N200, N500, and N1,000 notes.
In response to the court’s ruling, the CBN has instructed all its branches to continue issuing and accepting all denominations of Nigerian notes.
The CBN clarifies that both the old versions and redesigned versions of N200, N500, and N1,000 banknotes are considered legal tender.
According to Section 20(5) of the CBN Act 2007, all banknotes issued by the Central Bank of Nigeria will remain legal tender indefinitely.
Members of the public are urged to accept all Naira banknotes, whether old or redesigned, for their day-to-day transactions.
The CBN advises handling these banknotes with utmost care to safeguard and protect their lifecycle.
This directive ensures that Nigerians can continue to transact with confidence and security, knowing that all Naira banknotes will be accepted in their regular dealings.
