Naira Redesign: CBN gives update on return of old notes

Barely eighteen days before the deadline set by the Central Bank of Nigeria, CBN, for the stoppage of the circulation of the old Naira notes, the apex bank has indicated it won’t extend the deadline.

CBN in a Facebook post on its verified page on Friday reminded Nigerians that new notes of N200, N500 and N1000 would cease to be legal tenders by January 31 this year.

Recall that the CBN launched the redesigned notes of N200, N500 and N1000 on November 23, 2022, by President Muhammadu Buhari.

The new currency notes were circulated from December 15, 2022.

The apex bank said Nigerians should return the old notes before the deadline.

“A reminder to the general public that the old series of N200, N500 and N1000 notes cease to be legal tender by January 31, 2023.

”You are once again advised to return them to your bank before the deadline,” CBN wrote.