THE CBN DECLARES THAT OLD NAIRA NOTES ARE NO LONGER VALID MONEY.

The previous N200, N500, and N1000 notes are no longer considered legal tender as of February 10, 2023, according to the CBN.

This occurs despite the Supreme Court of Nigeria’s order in Abuja prohibiting the apex bank from enforcing the February 10 deadline for the old notes. On February 13, Haladu Idris Andaza, the branch controller for CBN in Bauchi, revealed this information to reporters.

For the avoidance of doubt, we desire to announce explicitly that CBN is ready and is prepared to receive all of those old notes depending on certain rules and requirements, he reportedly added, according to DailyTrust.

Customers are welcome to visit the bank and deposit money, which they are no longer able to do at commercial banks due to the currency’s loss of legal tender status as of this month’s 10th.

The CBN management determined that those clients would breathe a sense of relief by going to the offices of the okCBN in all 36 states of the federation, including the Federal Capital Territory, to deposit their money.