Ginny
1 year ago
CBN extend the deadline for the use of the old N200, N500 and N1000 notes
The Central Bank of Nigeria (CBN) has extended the deadline for the use of the old N200, N500 and N1000 notes, citing the need to further enhance financial inclusion.
- The CBN had earlier announced that the old notes would cease to be legal tender on February 1, 2023, but has now decided to extend the deadline indefinitely.
- The CBN said this decision was made in response to requests from various stakeholders and in order to further achieve the goals of its currency redesign program.
- This move has been welcomed by many Nigerians, who see it as a positive step towards improving financial inclusion
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