The Central Bank of Nigeria (CBN) has clarified that there is no deadline for the old naira notes to cease being legal tender. This comes after earlier reports suggesting a December 31, 2023, deadline for the old N200, N500, and N1,000 notes.
In response to concerns and potential panic among citizens, the CBN assured Nigerians that these notes will remain in circulation indefinitely and will be phased out gradually. The move is intended to prevent the hardships previously experienced during the cash shortage earlier this year.
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