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President Muhammadu Buhari has approved the extension of the use of the old N200 notes as legal tender.
The President in a nationwide broadcast on Thursday morning, however, said N500 and N1000 notes are now phased out.
“I have approved to the CBN that the old N200 note be allowed along with the new N200 notes for 60 days from February 10 to April 10, when the old N200 note ceases to be legal tender.
“However all the old N500 and N1,000 notes remain redeemable at any CBN branch.
“I have also asked the CBN to make the new notes become accessible to citizens through the banks,” Buhari said.