*The Central Bank of Nigeria reiterates the validity of the subsisting Supreme Court ruling granted November 29, 2023, permitting the concurrent circulation of all versions of the N1000, 鈧�500, and N200 denominations of the Naira 鈥榠ndefinitely鈥櫬�

Isola Moses | 绿帽献妻

The Central Bank of Nigeria (CBN) has dismissed the misinformation making the rounds in the country in regard to the validity of the old N1000, N500, and N200 banknotes currently in circulation.

The CBN, in line with the Bankers Bank鈥檚 previous clarifications, and to offer further assurance, has reiterated that the subsisting Supreme Court ruling granted November 29, 2023, permits the concurrent circulation of all versions of the N1000, 鈧�500, and N200 denominations of the Naira 鈥渋ndefinitely鈥�.

Mrs. Sidi Ali, Hakama, Acting Director of Corporate Communications at CBN, Friday, December 13, 2024, stated: 鈥淔or the avoidance of doubt, all versions of the Naira, including the old and new designs of N1000, 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.

鈥淲e, therefore, advise the public to disregard any claims that the old series of the aforementioned banknotes will cease to be legal tender on December 31, 2024.鈥�

The CBN also said: 鈥淲e urge Nigerians to continue accepting all Naira banknotes (both old and redesigned) for their daily transactions and to handle them with care to ensure their longevity.

鈥淔urthermore, the general public is encouraged to embrace alternative modes of payment, such as e-channels, to reduce pressure on using physical cash.鈥�