President Muhammadu Buhari has announced that previous N200 notes will remain legal tender until April 10.
In a televised address to the country on Thursday, the president announced that all extant old N1000 and N500 notes are still redeemable at the Central Bank of Nigeria (CBN) at designated places.
“To further alleviate supply pressures, especially on our citizens, I have authorized the CBN to release the old N200 banknotes back into circulation and to allow them to circulate as legal tender alongside the new N200, N500, and N1000 banknotes for 60 days, from February 10, 2023 to April 10, 2023, when the old N200 notes will cease to be legal tender,” the president said.
“According to Section 20(3) of the CBN Act of 2007, all existing N1000 and N500 notes are still redeemable at the CBN and authorized locations.