CBN Directs Banks to Issue, Accept Old and Redesigned Naira Notes

The Central Bank of Nigeria (CBN) directed all its branches to continue issuing and accepting all denominations of Nigerian banknotes, both old and redesigned. The Supreme Court’s order granted indefinite legal tender status to old versions of N200, N500, and N1,000 banknotes alongside redesigned versions.

In a press release, the CBN emphasized the need for the public to accept all Naira banknotes, old or redesigned, for day-to-day transactions. The general public was encouraged to embrace alternative payment methods to reduce reliance on physical cash.