CBN-2 (1).jpg
The Central Bank of Nigeria (CBN) confirmed that old N200, N500, and N1000 notes remain valid following a Supreme Court ruling. The notes will continue to circulate indefinitely with no deadline for use, despite claims otherwise. Nigerians are encouraged to accept all Naira notes and embrace electronic payments.
The Central Bank of Nigeria (CBN) has assured Nigerians that the old N200, N500, and N1000 notes will remain valid as legal tender, following confusion around their status. In a statement issued on December 14, 2024, the CBN clarified that these denominations will continue to circulate indefinitely, in line with a Supreme Court ruling from November 29, 2023.

The ruling allows for the ongoing use of both old and new notes of the N1000, N500, and N200 denominations, as well as the older versions of the N100 denomination. The CBN urged the public to disregard claims suggesting that these notes would no longer be valid after December 31, 2024, emphasizing that there is no deadline for their use.

The CBN also called for greater adoption of electronic payment methods to reduce reliance on physical cash and ensure efficient transactions. The statement further encouraged Nigerians to accept all forms of Naira banknotes for payments and to handle them responsibly, to preserve their condition.

This clarification from the CBN follows increasing concerns among Nigerians regarding the continued validity of the older notes, as rumors and misinformation circulated about their potential withdrawal.