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Home Economy And Business

BREAKING: CBN Speaks On Deadline For Old Naira Notes Validity

the CBN encouraged citizens to adopt digital payment methods for greater convenience.

by NewsOnline Nigeria
October 25, 2024
in Economy And Business, Headline
0
Old Naira Notes Usage

CBN has clarified setting any deadline for old Naira notes validity in Nigeria.

 

NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) has reassured the public that there is no set deadline for the use of old Naira notes.

 

The assurance was contained in a statement issued by Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications.

 

ALSO: Alleged Defamation, Cyberstalking of GTCO CEO: Defendants Are Serial Blackmailers, Witness Tells Court

 

This clarification addresses false reports circulating that the N200, N500, and N1,000 notes would no longer be valid after December 31, 2024.

The bank affirmed that the Supreme Court’s ruling from November 2023, which extended the use of old banknotes indefinitely, remains in effect.

 

“The order of the Supreme Court on November 29, 2023, extending the use of old banknotes indefinitely remains in force,” the statement read.

 

Nigerians are advised to ignore any contrary reports and continue using both old and new denominations.

 

Additionally, the CBN encouraged citizens to adopt digital payment methods for greater convenience.

 

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