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CBN Finally Approve Old N200, N500,N1000 As Legal Tender



Acting Director, Corporate Communications

The Central Bank of Nigeria, CBN, has finally approved old N200, N5000, and N1000 as legal tender.

This development is coming weeks after the Supreme Court ruled that the old naira notes should remain legal tender till December 31,2023.

In a press release by the CBN signed by Acting Director, Corporate Communications
,Isa AbdulMumin,on Monday said the apex bank in now acting according to the Supreme Court order.

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“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 N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

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“Consequently, all concerned are directed to conform accordingly.”

Hammed Tajudeen is a graduate of Osun State Polytechnic, Iree with Higher National Diploma (HND) in Mass Communication

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