The Central Bank of Nigeria (CBN) may likely ignore the recent instruction of the House of Representatives that it should kick-start awareness programmes for Nigerians to be aware and be prepared for the deadline of December 31, 2024 for the old Naira notes ASA legal tender.
To corroborate the legislative order which emanated yesterday from the floor of the house, the apex bank has come out today to reassure the public that there is no set deadline for the use of old Naira notes.
The assurance was contained in a statement issued by Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications.
The statement which was described as a clarification also noted that it was to address the reports circulating that the N200, N500, and N1,000 notes would no longer be valid after December 31, 2024.
The bank affirmed that the Supreme Court’s ruling from November 2023, which extended the use of old banknotes indefinitely, remains in effect.
“The order of the Supreme Court on November 29, 2023, extending the use of old banknotes indefinitely remains in force,” the statement read.
Nigerians are advised to ignore any contrary reports and continue using both old and new denominations.
Additionally, the CBN encouraged citizens to adopt digital payment methods for greater convenience.
