The Central Bank of Nigeria (CBN) has clarified that both old and redesigned versions of the ₦1000, ₦500, and ₦200 banknotes remain valid legal tender. This announcement comes in line with the Supreme Court ruling of November 29, 2023, which upheld the indefinite validity of all Naira notes.
In a statement issued by Hakama Sidi Ali, the Acting Director of Corporate Communications, the CBN dismissed claims that the old notes would cease to be legal tender by December 31, 2024. The statement urged Nigerians to disregard such reports and assured the public of the continued use of all versions of the Naira notes.
The CBN also encouraged Nigerians to adopt electronic payment methods to reduce reliance on cash transactions, emphasizing the importance of a modernized payment system in the country.
