The Central Bank of Nigeria (CBN) has debunked the rumours making the round that the old N200, N500, and N1000 notes would cease to be legal tender after December 31, 2024.
The Bank in a statement signed by its Ag. Director, Corporate Communications, Sidi Ali, Hakama, described the claims as false and calculated to disrupt the country’s payment system.
According to the Apex Bank, the false claims have become topics of discussion at different forums recently.
Supreme Court’s ruling
The Bank reminded those peddling the rumours of a 2023 Supreme Court ruling on the matter, noting that it still remains in force to date.
“For the avoidance of doubt, the order of the Supreme Court of Nigeria on Wednesday, November 29, 2023, granting the prayer of the Attorney-General of the Federation and Minister of Justice to extend the use of old Naira banknotes ad infinitum, subsists.
“Similarly, the CBN’s directive to all its branches to continue to issue and accept all denominations of…
