The Central Bank of Nigeria (CBN) has reiterated that all versions of the naira, including the old and new designs of the N1000, N500, and N200 notes, as well as the commemorative and previous designs of the N100 note, remain valid legal tender and will continue to be legal tender indefinitely.
In a statement released on Friday, the Acting Director of Corporate Communications at the apex bank, Mrs Hakama Sidi Ali, debunked widespread claims of a December 31, 2024, deadline for using old banknotes, describing them as “misinformation”.
The CBN emphasised that this clarification is in line with the Supreme Court’s ruling of November 29, 2023, which permits the indefinite concurrent circulation of all versions of these denominations.
“The Bank’s previous clarifications and to offer further assurance, the CBN wishes to reiterate that the subsisting Supreme Court ruling granted on November 29, 2023, permits the concurrent circulation of all versions of the N1000, N500, and N200 denominations of the naira indefinitely,” the statement read.
The regulator urged Nigerians to use banknotes for their daily transactions and to handle them with care to ensure their longevity.
