The Central Bank of Nigeria (CBN) has announced that all Naira notes, including old and redesigned ₦1000, ₦500, and ₦200 denominations, as well as ₦100 commemorative notes, remain legal tender without a deadline. This clarification follows misinformation about the validity of older notes.
The CBN reiterated that a Supreme Court ruling on November 29, 2023, permits the indefinite use of these denominations. The public is urged to ignore claims suggesting the old notes will stop being legal tender by December 31, 2024. Nigerians are encouraged to accept all versions of the Naira for transactions.
Additionally, the apex bank advised Nigerians to explore alternative payment channels, like e-payment systems, to ease reliance on physical cash and preserve the longevity of banknotes in circulation.