President Muhammadu Buhari has ordered that the old N200 remains legal tender throughout Nigeria until April 10, 2023. He disclosed this in a 13-minute nationwide broadcast started at 7:00 a.m. today, Thursday, February 16.
“I have given approval to the CBN that the old N200 be released back into the system for 60 days, from February 10 to April 10, 2023 and should circulate alongside the new N200 until April 10, 2023 when the old N200 note ceases to be legal tender,” Buhari said.
He indicated that the old N500 and N1,000 notes have ceased to be legal tender from February 10 as earlier declared by the Central Bank of Nigeria (CBN).
The President disclosed that he has directed CBN to intensify education of the naira redesign policy and to collaborate with anti-corruption agencies to clamp down on financial institutions sabotaging the policy.
Credit: NEWS EXPRESS.
