The Central Bank of Nigeria (CBN) has confirmed that the old N1000, N500, and N200 banknotes will remain valid alongside the newly introduced currency notes.

The CBN’s reaffirmation follows widespread confusion caused by misinformation regarding the status of the old banknotes. Mrs. Ali explained that this clarification was necessary after observing growing uncertainty among the public.

In line with a Supreme Court ruling on November 29, 2023, all versions of the N1,000, N500, and N200 notes, both old and new, will continue to circulate indefinitely. Ali stressed, "For the avoidance of doubt, all versions of the naira, including both the old and new designs of N1000, N500, and N200 notes, as well as the commemorative and previous designs of the N100 denomination, remain valid and legal tender with no expiration date."

The CBN further urged Nigerians to ignore any false claims suggesting that the old notes would no longer be valid after December 31, 2024. "We encourage Nigerians to continue accepting all Naira banknotes, whether old or redesigned, in their daily transactions," Ali added. She also reminded the public to handle the currency carefully to ensure its durability.

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Stay informed and embrace the convenience of both old and new Naira notes for seamless transactions!