The Central Bank of Nigeria (CBN) has dismissed rumors that the old N200, N500, and N1,000 banknotes will stop being legal tender on December 31, 2024.
This comes after the House of Representatives suggested that the old banknotes would no longer be valid by that date. The CBN clarified that there is no such plan, and the Supreme Court’s ruling allowing the continued use of both old and new Naira notes still stands.
The bank emphasized that all denominations, old and redesigned, will remain in circulation indefinitely. It also urged Nigerians to continue accepting both types of Naira notes and to consider using digital payment methods to reduce reliance on cash.
