CBN COMPLIES TO SUPREME COURT JUDGEMENT…. Says Old N200, N500, and N1,000 banknotes Remain Legal Tender

Oru Leonard

The Central Bank of Nigeria (CBN), has said that the N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

This is compliance to the Supreme Court judgement of March 3, 2023.

This is contained in a release signed today by the CBN Ag. Director, Corporate Communications, Isa AbdulMumin

See Full Text.

Central Bank of Nigeria

Press Release

Old N200, N500, and N1,000 banknotes Remain Legal Tender -CBN

In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court judgement of March 3, 2023.

Accordingly, the CBN met with the Bankers’Committee and has directed that
the old N200, N500 and N1000banknotes remain legal tender alongside the
redesigned banknotes till December 31, 2023.
Consequently, all concerned are directed to conform accordingly.

Signed.

IsaAbdulMumin
Ag. Director, Corporate Communications
March 13, 2023