The Central Bank of Nigeria (CBN) has clarified that old Naira notes remain valid indefinitely, contrary to rumors of a December 31, 2024, expiration date. This assurance was given by Mrs. Hakama Sidi-Ali, CBN’s Acting Director of Corporate Communications, citing the Supreme Court ruling of November 29, 2023.
1. All versions of N1000, N500, and N200 notes, including old and new designs, are valid.
2. Commemorative and previous designs of the N100 denomination also remain valid.
3. The CBN encourages Nigerians to use both old and redesigned banknotes for daily transactions.
4. The bank promotes alternative payment channels, like electronic banking platforms, to reduce physical cash reliance.
For more information, visit the Central Bank of Nigeria’s website
Source: Punch
