The Central Bank of Nigeria (CBN) yesterday declared that the old Naira Notes of N200, N500 and N1000 have ceased to be legal tender in the country since the 10th of February, 2023.
The declaration was made by the Branch Controller of the Central Bank of Nigeria (CBN), Bauchi, Haladu Idris Andaza while briefing Journalists on Monday at the CBN branch in Bauchi.
He said that “In the last 24 hours, we have been inundated by questions from various angles of the general public about our operational guidelines on the old currency notes, be that as it may, there are so many questions here and there which people have been asking about.”
According to him, “So for the avoidance of doubt, we wish to state categorically that CBN is ready and is open to receive 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 the Commercial Banks anymore because the currency has ceased to be a legal tender since the 10th of this month.