Old 500 And 1000 Naira Notes Are Now Legal Tender – CBN

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The Central Bank of Nigeria (CBN) says both old and new Naira banknotes are legal.
CBN’s director of corporate communications, Dr. Isa Abdulmumin, revealed this on Tuesday, March 7, TheCable reported.

According to the report, Isa claims that commercial banks have begun to issue both old and new banknotes to their customers, although the apex bank has yet to issue an official statement.

According to him,

“Banks are paying old notes as well as new notes. They are all legal tender.

Yes, the CBN has not issued an official statement on the issue. Anyone banks give to you, you can collect. We just want to make life easy for Nigerians.”

He added that the old notes should not be rejected as they are still a valid means of exchange.

“No. They can’t reject it. It’s all legal tender,” he said.

Recall that last week the Supreme Court gave its verdict on the Naira redesign, directing the federal government to allow the validity of N200, N500, and N1000 notes till 31 December.

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