Connect with us

Hi, what are you looking for?

GlamCityzGlamCityz

News

CBN Extends Circulation of Old Naira Notes Alongside New Ones Until December 31st

CBN

Following the back and forth of the usage of the old Naira notes, the Central Bank of Nigeria (CBN), has announced that old N200, N500, and N1,000 will now circulate with the new ones till December 31st, 2023, following a Supreme Court justice.

CBN spokesperson, Isa Abdulmumin, who announced the development in a statement on Monday, stressed that the apex bank has ordered commercial banks to dispense and accept the deposit of old Naira notes.

“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 ruling 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.” the statement reads

Liked What You Read? Let’s Keep It Going!
Subscribe to get fresh posts, fashion inspo, & exclusive content straight to your inbox.
Written By

Ben Orange, is a stylist and a senior fashion editor at GLAMCITYZ, who covers topics in Fashion, Style, and weddings. With his keen eye for trends, he expertly navigates the dynamic world of fashion, offering invaluable insights and advice to readers.In his leisure time, you'll often find Ben indulging in his love for reading and enjoying the melodies of good music.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

GLAMCITYZ RECOMMENDS

News

Nigeria beat Morocco 3–2 in a thrilling final to win their 10th Women’s Africa Cup of Nations title.

News

Big congratulations are in order for Priscilla Ojo and her husband, Juma Jux! Just three months after saying “I do,” the couple has shared...

News

Muhammadu Buhari, Nigeria’s former president, has died at the age of 82. The announcement came on Sunday via his official X (formerly Twitter) account...

Travel

So you’ve been saving pins of Times Square, bookmarking business conferences in Atlanta, and eyeing those dreamy West Coast campuses in California. Well, if...

Advertisement