The Nigerian Central bank has said the Old N200, N500, and N1,000 banknotes Remain Legal Tender following the Supreme court Judgement.
According to the memo Signed by Isa AbdulMumin, Ag. Director, Corporate Communications on Monday, 13 March, 2023 said the old naira notes remains legal tender.
The memo which reads in details said;
“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 judgement of
March 3, 2023.
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.
Consequently, all concerned are directed to conform accordingly” He said.
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