The Central Bank of Nigeria (CBN) has announced that the current series of N200, N500, and N1,000 notes will still be used as legal tender until the last day of January 2023.
Making this announcement against the backdrop of rumours that the current banknotes will stop being in use from December 15, the apex bank on Friday in a tweet clarified that the legal tenders will remain in use till January 31, 2023.
“The current series of N200, N500 and N1,000 notes remain legal tender until the deadline of January 31, 2023,” tweet by the apex bank read.
This comes as the CBN in October announced plans to introduce new naira notes on December 15.
Nigerians have been concerned about how the apex bank will phase out the use of the current currencies, but many have rumoured that the currency will stop being in use from December 15. However, the apex bank has cleared that the currency will still be in use until January 31, 2023.