President Muhammadu Buhari on Thursday directed the Central Bank of Nigeria, CBN, to recirculate the old Naira notes alongside with the new Naira notes for 60 days across the country.
Buhari made this known in a live broadcast to Nigerians on Thursday.
From this directive from the President, it means that N200 Naira notes is now legal tender while N500 and N1000 no longer legal tender in the country.
“To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender”.
