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Sunday, October 1, 2023

CBN Says Old, New Naira Notes Are Legal Tender

Central Bank of Nigeria, CBN, has said that both the old and the new Naira notes are now legal tender.

The CBN’s Acting Director of Corporate Communications Dr. Isa Abdulmumin disclosed this on Tuesday in Abuja.

He confirmed that Commercial Banks have started issuing both the old and the new notes to their customers but insisted that the Apex Bank is yet to issue an official statement.

“Banks are paying old notes as well as new notes. They are all legal tender.

“Yes, the CBN has not issued an official statement on the issue. Anyone banks give to you, you can collect. We just want to make life easy for Nigerians.” He said.

Recall that last week the Supreme Court gave verdict on Naira redesign, directing the Federal Government to allow the validity of N200, N500 and N1000 notes till 31 December.


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