BREAKING: Buhari extends validity of old N200 notes only for 60 days

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BREAKING: Buhari extends validity of old N200 notes only for 60 days

President Muhammadu Buhari has announced the returning of old N200 notes into circulation while N500 and N1,000 are still redeemable till April 10, 2023.

The President, during his national address, enjoined Nigeria’s to cooperate with the government so as to curtail the hoarding of cash for the purpose of influencing electorates in the general election coming up on February 25, 2023.

“Towards the extending days of the currency swap, I listened to valuable pieces of advice from well meaning Nigeria’s from all institution across the nation. I similarly consulted many representatives of the state governors as well as Council of States, above all, as an administration that the rules of law, I have given approval to the CBN that old N200 bank notes be released back to circulation and it should be allowed to circulate as legal tender with the new N200, N500, and N1,000 bank notes f860 days from February 10 to April 10, 2023 when the old N200 notes seizes to be legal tender
“In line with section 20 subsection 3 of the CBN, all existing old N1,000 and N500 will remain redeemable at CBN at designated points
“I admonish every citizens to strive harder to make their deposit their old notes.
“On this note, the CBN will ensure that new notes are available through the banks”, Buhari stated.