President Muhammdu Buhari has approved the continued use of the old N200 naira notes as legal tender till April 10. The President made this known on Thursday morning during an address to Nigerians. He said Nigerians should return all old N500, and N1000 to the Central Bank. He also apologised to Nigerians over the difficulties experienced in accessing the scarce new naira notes. He also apologised to Nigerians over the difficulties experienced in accessing the scarce new naira notes.
He said,
“To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.”
President Muhammadu Buhari however has said that the old N500 and N1,000 banknotes are no longer legal tender in the country. This is despite the continued use of the old N200 naira notes.
The president said,
“Let me re-assure Nigerians, that strengthening our economy, enhancing security and blockage of leakages associated with illicit financial flows remain top priority of our administration. And I shall remain committed to my oath of protecting and advancing the interest of Nigerians and the nation, at all times.”
You can watch the full address he made here.
