ENUGU, Nigeria (VOICE OF NAIJA)- President Muhammadu Buhari has ordered the Central Bank of Nigeria (CBN) to release the old N200 note into circulation until 10 April, 2023 when it will stop being legal tender.
He directed the apex bank to release old N200 notes into circulation to co-exist with new N200, N500 and N1,000 banknotes for 60 days, which is 10 April, 2023 when it will stop being legal tender.
President Buhari also instructed Nigerians to return all old N1,000 and N500 to the bank, as they are no longer a legal tender.
The President apologized to Nigerians over the difficulty experienced in the implementation of the naira redesign policy.
President Buhari made this known in a nationwide broadcast on Thursday and monitored by voiceofnaija.ng.
He directed the CBN to allow the new notes available to all citizens.
The President also apologized to Nigerians over the difficulty experienced in the implementation of the naira redesign policy.
“To further ease the supply pressure, particularly on our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and it should also be allowed to circulate as legal tender with the new N200, N500 and N1,000 bank notes for 60 days from February 10, 2023 to April 10, 2023 when the old N200 note ceases to be legal tender,” he said.