Old Naira Notes Are No Longer Legal Tender – CBN Declares

The old N200, N500, and N1000 notes ceased to be legal tender on February 10, 2023, the Central Bank of Nigeria, CBN has declared.

This development trails the ruling of the Supreme Court in Abuja that banned CBN from implementing the February 10 expiration date for the old notes.

CBN’s branch controller in Bauchi, Haladu Idris Andaza disclosed this to newsmen on Monday, February 13.

According to DailyTrust, he said,

“For the avoidance of doubt, we wish to state categorically that CBN is ready and is open to receiving all of those old notes based on certain conditions and criteria.

Customers are free to come to the bank and deposit which they cannot do at commercial banks anymore because the currency has ceased to be a legal tender since the 10th of this month.

The management of the CBN decided that those customers will have a sigh of relief by coming to the offices of the CBN in all the 36 states in the federation including FCT to deposit their money.

The customer has to go to the CBN portal and fill a form in the portal, there will be a form there concerning this currency redesign and exchange.

By the time you have done it correctly, you come to the CBN where the code will be accepted from you as well as the money, process and confirm the genuineness or otherwise of the money to avoid receiving fake notes because there are some fake notes in circulation now.”