President Muhammadu Buhari has announced the extension of the validity of old N200 notes till April 10.
The president disclosed this in a televised nationwide address on Thursday, stating that all existing old N1000 and N500 notes remain redeemable at the Central Bank of Nigeria (CBN) and designated points.
“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.
“In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.
He further directed the CBN to intensify collaboration with anti-corruption agencies, so as to ensure that any institution or person(s) found to have impeded or sabotaged the implementation should be made to bear the full weight of the law.