The Central Bank of Nigeria CBN has instructed all banks to continue issuing and accepting both the old and redesigned N200, N500, and N1,000 notes until further notice.
The old notes will no longer be withdrawn from circulation from December 31, as announced in a statement by the CBN acting Director, Corporate Communications, Ali Sidi Hakama.
This is following an order of the Supreme Court that lifted the December 31 deadline for the old notes on Wednesday.
The order was pursuant to a petition brought to the apex court by the Federal Government.
The FG represented by the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN) sought a review of the apex court’s March 3 verdict that declared the old N200, N500, and N1,000 notes as legal tender until December 31.