Old Naira Notes: No Extension, January 31 Deadline Stands — CBN

Central Bank of Nigeria (CBN) has reiterated that the deadline for exchange of the old Naira notes for new ones remains January 31, 2023.

TrackNews Media Reports that The Apex Bank made this clarification In its official twitter handle @cenbank, on Friday, the apex bank wrote, “The current series of N200, N500 and N1,000 notes remain legal tender until the deadline of January 31, 2023.”

This means that there is no official position as at today by the CBN to shift its earlier deadline, and a pointer to a resolve to phase out the old naira notes of 200, 500, and 1,000 denominations over the next few days.

Last October, the CBN had announced that the old Naira notes would cease to circulate, and be legal tender from January 31, 2023 after detailing a number of reasons for the action.

The announcement had sparked various reactions from the public, which in part, informed the call by the National Assembly for CBN to extend the deadline of January 31, 2023.