 has assured citizens that there are no plans to phase out the old N1,000, N500, and N200){kind=link}
The Central Bank of Nigeria (CBN) has assured citizens that there are no plans to phase out the old N1,000, N500, and N200 notes from circulation.
This clarification was issued on Friday, December 13, in response to rumours suggesting otherwise.
The apex bank emphasized that the claims of a withdrawal are baseless.
According to Hakama Ali, the acting director of corporate communications for the CBN, both the old and new versions of these denominations are still recognized as legal tender.
Ali cited the Supreme Court ruling of November 29, 2023, which permits the indefinite concurrent use of both versions of the notes.
The CBN urged Nigerians to dismiss any reports suggesting a deadline for the use of the old notes and to continue using both old and new notes for transactions without concern.