President Muhammadu Buhari has announced the extension of the validity of old N200 notes till April 10.
The president disclosed this in a televised nationwide address on Thursday, adding that all existing old N1000 and N500 notes remain redeemable at the Central Bank of Nigeria (CBN) and designated points.
“To further ease the supply pressures, particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender,” the president said.
It is however unclear if Nigerians would accept the conditional extension of the old naira notes, limited to only the N200 old note considering the untold hardship that the policy has brought upon Nigerians, rich and poor.
