By Ayodele Oni
President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to return into circulation the old N200 notes.
The President gave the order in a broadcast on Thursday morning.
President Buhari Extends Circulation Of N200 Notes Till April
He said the old N200 note will be spent alongside the new notes of N200, N500 and N1000 till April 10, 2023.
He said, “To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.
“In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.
“Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CBN.”
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