The Central Bank of Nigeria (CBN) has confirmed that there is no deadline for the circulation of the old N200, N500, and N1000 banknotes.
CBN spokesperson Sidi Ali Hakama made this announcement in a statement released on Thursday.
This clarification comes in response to rumors suggesting that the old Naira notes would no longer be accepted as legal tender after December 31, 2024.
The central bank has categorically stated that these claims are untrue.
CBN emphasized that all banknotes continue to be recognized as legal tender.
“The Central Bank of Nigeria (CBN) has noted discussions in various forums indicating that the old series of N200, N500, and N1,000 banknotes will cease to be legal tender on December 31, 2024.
“We want to make it clear that such assertions are false and intended to disrupt the country’s payment system.
“For clarity, the order of the…
