• About Us
  • Privacy Policy
  • Contact Us
  • Advertise With Us
  • Home
Metrowatchonline
Sunday, June 1, 2025
  • Home
  • News
  • Security
  • World
No Result
View All Result
  • Home
  • News
  • Security
  • World
No Result
View All Result
Metrowatchonline
No Result
View All Result
Home Business

CBN Says ‘No Deadline on Circulation of Old Series of Naira Banknotes’

For the avoidance of doubt, the order of the Supreme Court of Nigeria on Wednesday, November 29, 2023, granting the prayer of the Attorney-General of the Federation and Minister of Justice to extend the use of old Naira banknotes ad infinitum, subsists.

Publisher by Publisher
October 24, 2024
in Business, Highlights, Top News
0
CBN Lifts Ban on Cryptocurrency Transactions | METROWATCH

*The Central Bank of Nigeria complex, Abuja

(PRESS RELEASE)

The attention of the Central Bank of Nigeria (CBN) has been drawn to discussions at different fora suggesting that the old series of the N200, N500, and N1,000 banknotes shall cease to be legal tender on December 31, 2024. We wish to state categorically that such claims are false and calculated to disrupt the country’s payment system.

For the avoidance of doubt, the order of the Supreme Court of Nigeria on Wednesday, November 29, 2023, granting the prayer of the Attorney-General of the Federation and Minister of Justice to extend the use of old Naira banknotes ad infinitum, subsists.

Similarly, the CBN’s directive to all its branches to continue to issue and accept all denominations of Nigerian banknotes, old and re-designed, to and from deposit money banks (DMBs) remains in force.

ALSO READ...

I’m Loyal to Tinubu, Says Reno Omokri

Kano Sports Contingent Accident Devastating, Says Tinubu

It will be recalled that the Supreme Court ordered that the old series of N200, N500, and N1,000 banknotes shall continue to be legal tender alongside the redesigned versions. Accordingly, all banknotes issued by the Central Bank of Nigeria (CBN) will continue to remain legal tender indefinitely.

We, therefore, advise members of the public to disregard suggestions that the said series of banknotes will cease to be legal tender on December 31, 2024. We urge Nigerians to continue to accept all Naira banknotes (old or redesigned) for their day-to-day transactions and handle them with the utmost care to safeguard and protect their lifecycle.

Furthermore, the general public is encouraged to embrace alternative modes of payment, e- channels, in order to reduce pressure on the use of physical cash.

 

E-Signed:

Sidi Ali, Hakama (Mrs.)

Ag. Director, Corporate Communications

October 24, 2024

Previous Post

CAF Confirms Details for 2024 Player of the Year Awards

Next Post

APC Transition Committee Urges Transparency in Edo Handover

Publisher

Publisher

Related Posts

Reno Omokri

I’m Loyal to Tinubu, Says Reno Omokri

June 1, 2025
Tinubu

Kano Sports Contingent Accident Devastating, Says Tinubu

June 1, 2025
Bola Tinubu

Moody’s Upgrade of Nigeria’s Credit Rating, Positive Sign to Investors, Tinubu Says

May 31, 2025
PSG

PSG Thrash Inter Milan 5-0 to Win First Champions League Title

May 31, 2025
Ogun

Ogun Gateway Games: 20 Kano Athletes Die in Road Accident

May 31, 2025
WAEC

WAEC: Katsina Govt Calls for Cancellation of English Language Exam

May 31, 2025
Next Post
APC Transition Committee Urges Transparency in Edo Handover

APC Transition Committee Urges Transparency in Edo Handover

  • About Us
  • Privacy Policy
  • Contact Us
  • Advertise With Us
  • Home

© 2024 Metrowatch Online Published by Miraculous Media Connect Limited. All rights reserved

No Result
View All Result
  • Home
  • News
  • Security
  • World

© 2024 Metrowatch Online Published by Miraculous Media Connect Limited. All rights reserved

Go to mobile version