OLD N200, N500 and N1,000 will be accepted after the February 10, 2023 fresh deadline by the Central Bank of Nigeria – CBN, the country’s apex bank has clarified.
The Director of the Corporate Communications Department at the CBN, Osita Nwanisobi, who clarified the apex bank’s chief, Godwin Emefiele’s position on the issue, said the old notes would cease to be legal tender after the February 10, 2023, and can no longer be used for any form of transaction afterward.
Nwanisobi explained that after the deadline, Nigerians would however, be able to redeem the face value of the Naira only at the CBN and not at commercial banks.
He noted that the acceptance would be subject to meeting certain conditions.
The duration for the acceptance of the old notes after the expiration of the deadline was, however, not stated.
Earlier on Tuesday, CBN Governor, Emefiele had appeared before the House of Representatives Adhoc Committee on naira swap. His appearance came months after the invitation by the lower chamber and days after the Speaker of the House, Femi Gbajabiamila threatened to issue an arrest warrant on the apex bank chief.
