The Central Bank of Nigeria (CBN) has said that the old naira notes for N200, N500 and N1000 will still remain as legal tender beyond December 31, 2023.
Recall that the CBN had announced in March that, in compliance with the verdict of the Supreme Court, the affected banknotes would cease to be in circulation by December 31.
Emefiele's directive resulted in a cash crunch across the country in February, leaving citizens in untold hardship, which eventually led to protests and attacks on banks in some cities across the country. He assured Nigerians not to exercise any fear about the December 31 deadline, adding that the apex bank would phase out the banknotes gradually, in order not to cause other pains for the people.
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