Old and new Naira notes are equally valid – CBN

Both the new and old notes are now accepted as payment, according to the Central Bank of Nigeria.

This was announced on Tuesday by Dr. Isa Abdulmumin, acting director of corporate communications at CBN.

According to him, commercial banks have begun issuing both the old and new notes to their clients.

but stressed that no formal statement had yet been released by the apex bank.

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He declared, “Banks are paying both new and old notes. All of them qualify as valid currency.

“Well, the CBN hasn’t made an official announcement about the matter. You can collect whatever that banks provide you. We merely want to simplify life for Nigerians.

The federal government has until December 31 to honour the validity of the N200, N500, and N1000 notes, according to the Supreme Court’s ruling on the redesign of the naira last week.

According to information obtained by Obasanjonews24 on Monday, several banks in Abuja and Lagos have begun releasing the old notes to consumers in reaction to the ruling.

But, old notes are not being accepted by merchants, business owners, or drivers.