Categories: Finance

CBN Breaks Silence, Says Old Naira Notes Remain Legal Tender Till Dec 31st

The Central Bank of Nigeria (CBN) says the old N200, N500 and N1000 notes remain legal tender until December 31, 2023.

Isa Abdulmumin, CBN spokesperson, announced the development in a statement on Monday.

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,” the statement reads.

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.

Sponsored

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

More to follow…

SPONSORED
ABN TV EDITOR

ABN TV is one of the most visited news platform across Nigeria and the world over. It has carved a niche for itself in delivering authentic, accurate news.

Recent Posts

Makinde Announces Arrest Of Oyo Children Funfair Organizers

The organizers of a children's funfair have been arrested after a stampede at the Islamic…

10 hours ago

Tinubu Vows To Tackle Unemployment Head-On In 2025, Assures Youths

The determination of President Bola Ahmed Tinubu's administration to address youth unemployment head-on in the…

10 hours ago

Police Arrest 3 Car Thieves, Bandit , Seize Weapons In Kaduna

The Kaduna Police Command reported that on December 16, 2024, three alleged car snatchers and…

10 hours ago

Multiple Children Feared Dead In Oyo Funfair

According to reports, a stampede during a children's carnival in the state capital of Ibadan…

11 hours ago

Indiana Carries Out Its First Execution In 15 Years

Indiana, a US state, executed a mentally ill man on Wednesday for the first time…

11 hours ago

Amorim Keen For Departing Rashford To Remain At Manchester United

Ruben Amorim, the manager of Manchester United, stated that he wants to retain Marcus Rashford…

11 hours ago