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HomeNewsJUST IN: Naira Scarcity, Only N200 Old Notes Remain Valid– Buhari

JUST IN: Naira Scarcity, Only N200 Old Notes Remain Valid– Buhari

President Muhammadu Buhari has announced the extension of the validity of old N200 notes till April 10.

Announcing the development in a televised nationwide address on Thursday, the president said all existing old N1000 and N500 notes remain redeemable at the Central Bank of Nigeria (CBN) and designated points.

“To further ease the supply pressures, particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender,” the president said.

“In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.

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