Old Naira Notes of N200, N500, N1000, Have Ceased To Be Legal Tender In Nigeria Since February 10th – CBN

Old Naira Notes (Credit: Guardian)

The Central Bank of Nigeria (CBN) has issued a notice informing the general public that the old Naira Notes of N200, N500 and N1000 have ceased to be legal tender in Nigeria since 10th of February, 2023.

The information was passed through the Branch Controller of the Central Bank of Nigeria (CBN), Bauchi, Haladu Idris Andaza while briefing Journalists on Monday, February 13, at the CBN branch in Bauchi.

He said ;

“In the last 24 hours, we have been inundated by questions from various angles of the general public about our operational guidelines on the old currency notes, be that as it may, there are so many questions here and there which people have been asking about.”

“So for the avoidance of doubt, we wish to state categorically that CBN is ready and is opened to receive all of those old notes based on certain conditions and criteria.”

“Customers are free to come to the Bank and deposit which they cannot do at the Commercial Banks anymore because the currency has seized to be a legal tender since the 10th of this month”.

Putting this into Consideration, the management of the CBN has decided that those customers will have a sigh of relief by coming to the offices of the CBN in all the 36 states in the Federation including FCT to deposit their money.

But the customer will first fill a form concerning the currency redesign and exchange on the CBN portal.

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