The Central Bank of Nigeria (CBN) has categorically stated that the old notes including N200, N500 and N1000 notes ceased being legal tender since February 10, 2023.
Haladu Idris Andaza, CBN’s branch controller in Bauchi, disclosed this to newsmen on Monday, February 13.
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“For the avoidance of doubt, we wish to state categorically that CBN is ready and is open to receive all of those old notes based on certain conditions and criteria.
Customers are free to come to the bank and deposit which they cannot do at the commercial banks anymore because the currency has ceased to be a legal tender since the 10th of this month.
The management of the CBN decided that those customers will have a sigh of relief by coming to the offices of the CBN in all the 36 states in the federation including FCT to deposit their money.
The customer has to go to the CBN portal and fill a form in the portal, there will be a form there concerning this currency redesign and exchange.
By the time you have done it correctly, you come to the CBN where the code will be accepted from you as well as the money, process and confirm the genuineness or otherwise of the money to avoid receiving fake notes because there are some fake notes in circulation now.”
This is coming despite the ruling of the Supreme Court in Abuja that banned the apex bank from implementing the February 10 expiration date for the old notes.