THE NATION
Following the Supreme Court’s ruling which extended the use of old Naira banknotes indefinitely, the Central Bank of Nigeria (CBN) has instructed all its branches to continue issuing and accepting all denominations of Nigerian banknotes, both old and redesigned.
A statement from the CBN signed by the acting director of corporate communications, Sidi Ali Hakama, urged the public to continue accepting all Naira banknotes (old or redesigned) for their daily transactions and to handle these banknotes with care to extend their lifespan.
The public is encouraged to embrace alternative modes of payment, such as e-channels, to minimize the reliance on physical cash.
The Supreme Court’s ruling stipulates that the old versions of the N200, N500, and N1,000 banknotes will continue to be legal tender, alongside the redesigned versions.
