Old N200, N500, And N1,000 Banknotes Remain Legal Tender – CBN

The Central Bank of Nigeria, CBN has Deposit Money Banks (DMBs) to to comply with the Supreme Court ruling of March 3, 2023 to the effect that the Old N200, N500, and N1,000 banknotes rememain Legal Tender til the 31st of December 2023

The directive according to the apex bank is 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 the regulator, of the banking system in Nigeria

A statement by the Acting Director Corporate Communications Communications of the CBN, Isa Abdulmumin disclosed that Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.
The CBN at a meeting with the Bankers’ Committee revealed 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.