The Central Bank of Nigeria has extended the validity of the old N200, N500 and N1,000 notes indefinitely.

The apex bank’s Director, Corporate Communications, Isa AbdulMumin in a statement titled, “CBN To Allow Old Design Naira Banknotes As Legal Tender, Ad Infinitum” on Tuesday, said the decision is line with international best practices and to forestall a repeat of earlier experiences implementing the policy.

The PUNCH reports that the CBN introduced the redesigned N200, N500 and N1.000 denominations in October 2022 and certain deadlines were set for the old design of these denominations to cease as legal tenders.

The statement read, “Without prejudice, the Central Bank of Nigeria wishes to inform the general public of its desire to extend the legal tender status deadline of the old design of N200, N500 and N1,000 denominations; ad infinitum.

“This is in line with international best practices and to forestall a repeat of earlier experiences.

“Thus, all banknotes issued by the Central Bank of Nigeria, in accordance with Section 20(5) of the CBN Act 2007, will continue to remain legal tender, ad infinitum. even beyond the initial December 31, 2023, deadline.

“The Central Bank of Nigeria is working with the relevant authorities to vacate the subsisting court ruling on the same subject.

“Accordingly, all CBN branches across the country will continue to issue and accept all denominations of Nigerian banknotes, old and redesigned, to and from deposit money banks.

“The general public is enjoined to continue to accept all Naira banknotes (old or redesigned) for day-to-day transactions and handle these banknotes with utmost care, to safeguard and protect the lifecycle of the banknotes.

“Also, the general public is encouraged to embrace alternative modes of payment, e-channels, for day-to-day transactions.”

Source: https://punchng.com/breaking-old-naira-notes-remain-legal-tender-indefinitely-cbn/

Latest Update, Coming From CENTRAL BANK

Don't Forget, Naija.Cover Bring This UPDATE

Good one.

God forbid anything that will bring back that traumatic era of buying Naira with Naira.

No need to panic. The CBN should make cash available abeg.

Did you know??



Step 1: Make money

Step 2: Buy assets

Step 3: Act broke.

Step 4: Enjoy your life in private


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Emefele....chaii


DM me for your daily tips on how to stop bad habit.

This criminal enterprise called Nigeria is a funny place

Sometimes I forget that the Naira was recoloured because I honestly haven't touched any of the recoloured denomination in the last few weeks.

This dungeon by the British needs to be investigated and tried for crimes against humanity

This is the 3rd time this useless news is making it to FP in 1 week.

Just imagine!!
Emefiele and all the enemies of the nation,
AKA, children of hate, frustrations and bitterness hailing him back then, all of you will never end well in life, for all you made innocent Nigerians to go through because of your hatred and bitter politics.
Swines everywhere.

zombieHUNTER:

Useless and confused party..
Do you know how many people that died because of this policy?..
People gave away their old notes and threw them away..

This is how a directionless and hopeless party reigns.. Chaos everywhere

Same you that was saying Up Emefiele,
Serves Tinubu right.
Same you that was rejoicing for what Emefiele did just few months ago.
Same you we saw you and your ilks dancing 🕺 and rejoicing about that evil decision is the same person typing this??
Una Hypocrisy na top notch Hypocrisy!

So why is cash becoming scarce?

Banks say CBN isn't giving them cash anymore yet CBN is here capping

Y

Do they want us to believe this again or not?

Useless and confused party..

Do you know how many people that died because of this policy?..
People gave away their old notes and threw them away..

This is how a directionless and hopeless party reigns.. Chaos everywhere

Edited : Pigs quoting up there , have forgotten so soon how their darling daddy appointed Emefiele and taught him how to wreck the country's Economy..

Nobody appointed Emefiele for Buhari and APc.. And the foolish man said he took orders directly from Buhari..

UP there quoting and defending the indefensible is a fool pushing the blames of APc's failure down to his generation....

Spits..

24kmagik:
K

DJ YK

Nigeria is a joke

we've heard o.... financial arm of balablu..... I've met both yorubas, igbos, hausas etc who have foolishly either thrown their voters card away or vowed not to vote again but some of us know better....going to the polls next time.....it's bullet for bullet....every non civilian and criminalsworking with the enemies of Nigerians, especially the Nigerian youth should be very much prepared for what is to come.

Better

Nigeria always gets all bleeped

post=126970939:


Source: https://punchng.com/breaking-old-naira-notes-remain-legal-tender-indefinitely-cbn/

If person come carry the matter go supreme Court now how e go be? Wetin Dem go rule for the matter?

Good ! I can't forget So soon the Stress ,Trauma and Troubles Nigerians went through during the Currency Change/ Scarcity ..

post=126970939:


Source: https://punchng.com/breaking-old-naira-notes-remain-legal-tender-indefinitely-cbn/

both the new and old currency hard

If so, then how come it's now scare across the country? Wtf

Before nko. With the kind frustration wey dey country right now, if they mistakenly start another cash scarcity ehn, end sars will be a child play

Cool

Cos of Nigeria abi......God will forever punish Lord Lugard

We don hear!

This is a great development.

Anyways, please hike interest rates to bring down inflation. It will also strengthen the Naira. and boost market confidence.

The present negative interest rates makes one think monkeys are running the CBN.

I have the traumatic experience of events that happened during the cashless policy's
I video tape the gory scene which occurs when we're queing to get the cash, I will create a thread and upload the video soon

Ok