WATCH THE VIDEO HERE The Central Bank of Nigeria (CBN) has reaffirmed that all denominations of Naira banknotes, including old and new designs, will remain valid as legal tender indefinitely. This clarification comes amid circulating misinformation regarding the validity of old Naira notes. In a statement released on Friday by the CBN’s Acting Director of Corporate Communications, Mrs. Sidi Ali Hakama, the bank reiterated its commitment to the Supreme Court ruling of November 29, 2023. According to Hakama, the ruling permits the concurrent circulation of all versions of the N1,000, N500, and N200 denominations indefinitely. “In line with the bank’s previous clarifications and to offer further assurance, the CBN wishes to reiterate that the subsisting Supreme Court ruling granted on November 29, 2023, permits the concurrent circulation of all versions of the N1,000, N500, and N200 denominations of the Naira indefinitely. “For the avoidance of doubt, all versions of the Naira, including the old and new designs of N1,000, N500, and N200 denominations, as well as the commemorative and previous designs of the N100 denomination, remain valid and continue to be legal tender without any deadline,” the statement read.
All Naira notes remain legal tender indefinitely – CBN
