Business Journal


CBN: ‘Old N200, N500, N1000 Banknotes Remain Legal Tender Till Dec 31’


The Central Bank of Nigeria (CBN) released an official statement last night to the effect that the old N200, N500 and N1000 banknotes shall remain legal tender till December 31, 2023.

Below is the CBN statement signed by Dr. Isa AbdulMumin, Acting Director, Corporate Communications:

In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court judgement of March 3, 2023.

Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

Consequently, all concerned are directed to conform accordingly.

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