Following complaints expressed by Nigerians over Naira notes scarcity, The Central Bank of Nigeria (CBN) has issued a 70 days window for the use of old N200, N500, and N1,000 notes as legal tender across the country.
The directives were said to have been issued by President Muhammadu Buhari after a closed-door meeting with the CBN governor, Godwin Emefiele.The extension was disclosed on Tuesday by the Wife of the President on her official social media handle, applauding efforts of her Husband to address Naira scarcity issue that had crippled the economy days before the 2023 general election in the country.
Aisha, in a statement, said to have been issued by the CBN, stressed that Nigerians can now use old notes for legal tender.
The statement was said to have been issued by the apex bank’s Director, Corporate Communications Department, Osita Nwanisobi.
According to the statement, “Due to the current and unpleasant situation happening in Nigeria, In line with Mr. president. After having a closed meeting with him on the 20th of February, 2023, the Central Bank Of Nigeria (CBN) has been directed to ONLY reissue and recirculate the old N200, N500, and N1000 banknotes and this is expected to circulate as legal tender for 70 days up to May 1, 2023. Members of the public should therefore continue to spend the old notes”.
Meanwhile, the bank has debunked the claim of the President’s wife, describing it as fake.
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