The Central Bank of Nigeria has reiterated that the old N1000, N500, and N200 denominations remain valid and legal tender nationwide.
The spokesperson of the apex bank, Hakama Sidi Ali, disclosed this in a statement on Friday.
CBN’s comments come as cash scarcity worsened nationwide despite the apex banks’ directive to Nigerian banks to ensure the availability of cash in Automated Teller Machines.
Reacting, CBN clarified that all its banknotes are valid, contrary to the claims making the rounds.
“CBN has observed the misinformation regarding the validity of the old N1000, N500, and A200 banknotes currently in circulation.
“In line with the Bank’s previous clarifications and to offer further assurance, the CBN wishes
to reiterate that the subsisting Supreme Court ruling granted on November 29, 2023, permits the concurrent circulation of all versions of the N1000, N500, and N200 denominations of the Naira indefinitely.
“For the avoidance of doubt, all…