The Central Bank of Nigeria (CBN) has clarified that all naira banknotes, including the old and new designs of the ₦1000, ₦500, and ₦200 denominations, as well as the commemorative and previous designs of the ₦100 note, remain valid legal tender indefinitely, with no set deadline. EKO HOT BLOG reports that In a statement signed … Read more
EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) on Tuesday announced that it has extended the validity of the old N200, N500 and N1,000 notes indefinitely. The apex bank’s Director, Corporate Communications, Isa AbdulMumin disclosed this in a statement titled, “CBN To Allow Old Design Naira Banknotes As Legal Tender, Ad Infinitum” … Read more
Nigerians are hoarding redesigned naira notes ahead of the December deadline for the phasing out of old notes. Despite the Supreme Court ruling that old and new notes should circulate until the end of the year, most notes spent by Nigerians are still the old ones. The CBN is printing and releasing more new notes … Read more
The Supreme Court has upheld the validity of old naira notes as legal tender. The court issued the ruling on Wednesday in response to a lawyer’s complaint. The Court, however, fixed February 22 for hearing the suit filed by Kaduna, Kogi, and Zamfara states challenging the propriety of the naira swap policy of the Federal … Read more