The Central Bank of Nigeria (CBN) has assured Nigerians that all versions of the naira, including old and new designs of the ₦1000, ₦500, and ₦200 denominations, as well as the commemorative and previous designs of the ₦100 note, remain valid legal tender without any expiration date.
This clarification was issued in a statement signed by the Acting Director of Corporate Communications, Mrs. Sidi Ali Hakama, in response to misinformation about the validity of the old ₦1000, ₦500, and ₦200 notes.
The CBN emphasized that the Supreme Court ruling of November 29, 2023, allows the continued circulation of all versions of the affected naira denominations indefinitely. The apex bank urged the public to disregard claims that the old series of these banknotes would cease to be legal tender on December 31, 2024.
“For the avoidance of doubt, all versions of the naira, including the old and new designs of ₦1000, ₦500, and ₦200 denominations, as well as the commemorative and previous designs of the ₦100 denomination, remain valid and continue to be legal tender without any deadline,” the statement read.
The CBN also encouraged Nigerians to handle all naira banknotes with care and explore alternative payment methods, such as electronic channels, to reduce reliance on physical cash.
