Confusion As Central Bank of Nigeria Says Old Naira Notes No More Legal Tender
Written by Olarotimi Oshin on February 14, 2023
The Central Bank of Nigeria (CBN) has declared that the old N200, N500 and N1000 have ceased being legal tender since February 10, 2023.
It could be recalled that CBN had originally fixed January 31 as the deadline for old notes to be in circulation but extended it in response to pressure from Nigerians.
However, before the February 10 deadline, Kogi, Kaduna and Zamfara States approached the Supreme Court, seeking that the CBN be restrained going ahead with the deadline. The Court, in his response, answered their prayer and adjourned the case till February 15.
Meanwhile, there has been silence on the part of the apex bank since the court gave its ruling. The silence, has reportedly, thrown Nigerians into confusion on the state of the old notes.
Speaking on the state of confusion among Nigerians, CBN Branch Controller in Bauchi, Haladu Idris Andaza, said the old notes were no longer legal tender.