CBN Debunks Rumour, Says Banknotes Remain Legal Tender

The Central Bank of Nigeria, CBN has debunked the rumour that the old naira notes will cease to be in circulation by 31st of December 2024 stating that the false rumour was calculated to disrupt the country’s payment system.

A statement issued by the Acting Director of Corporate Communications Mrs Sidi Ali Hakama revealed that the order by the Supreme Court of Nigeria on the 29th of November 2023 that the old N200, N500 and N1000 should be used as a legal tender still subsists.

It urged the public to disregard the Rumour and continue to use the old and redesigned naira notes as legal tenders for their day to day transactions.

While encouraging the public to also use alternative modes of transactions like e-payments, it stated that any banknote from CBN continues to be legal tenders indefinitely.