{"id":142366,"date":"2024-12-13T23:43:08","date_gmt":"2024-12-13T22:43:08","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes"},"modified":"2024-12-14T00:44:51","modified_gmt":"2024-12-13T23:44:51","slug":"cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes","title":{"rendered":"Cash scarcity: CBN gives update on validity of old N1000, 500, N200 Naira notes"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Central Bank of Nigeria has reiterated that the old N1000, N500, and N200 denominations remain valid and legal tender nationwide.<\/p>\n

The spokesperson of the apex bank, Hakama Sidi Ali, disclosed this in a statement on Friday.<\/p>\n

CBN\u2019s comments come as cash scarcity worsened nationwide despite the apex banks\u2019 directive to Nigerian banks to ensure the availability of cash in Automated Teller Machines.<\/p>\n

Reacting, CBN clarified that all its banknotes are valid, contrary to the claims making the rounds.<\/p>\n

\u201cCBN has observed the misinformation regarding the validity of the old N1000, N500, and A200 banknotes currently in circulation.<\/p>\n

\u201cIn line with the Bank\u2019s previous clarifications and to offer further assurance, the CBN wishes<\/p>\n

to reiterate that the subsisting Supreme Court ruling granted on November 29, 2023, permits the concurrent circulation of all versions of the N1000, N500, and N200 denominations of the Naira indefinitely.<\/p>\n

\u201cFor the avoidance of doubt, all versions of the naira, including the old and new designs of N1000, N500, and N200 denominations, as well as the commemorative and previous designs of the N100 denomination remain valid and continue to be legal tender without any deadline.<\/p>\n

\u201cWe, therefore, advise the public to disregard any claims that the old series of the aforementioned banknotes will cease to be legal tender on December 31, 2024. We urge Nigerians to continue accepting all Naira banknotes (both old and redesigned) for their daily transactions and to handle them with care to ensure their longevity,\u201d the apex bank said.<\/p>\n

However, the CBN urged Nigerians to use alternative e-banking payment to carry out their daily transactions.<\/p>\n

\u201cFurthermore, the general public is encouraged to embrace alternative modes of payment, such as e-channels, to reduce pressure on using physical cash,\u201d the statement added.<\/p>\n

Cash scarcity has worsened in the past weeks despite CBN\u2019s directive to mitigate the challenges.<\/p>\n

In October 2024, CBN clarified that there is no deadline to the use of the old banknotes.<\/p>\n

During the administration of ex-CBN governor, Godwin Emefiele\u2019s Naira redesign policy, the Supreme Court had ruled that the old Naira notes can co-exist with the new notes.<\/p>\n

For More News And Analysis About Nigeria<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Central Bank of Nigeria has reiterated that the old N1000, N500, and N200 denominations remain valid and legal tender nationwide. The spokesperson of the apex bank, Hakama Sidi Ali, disclosed this in a statement on Friday. CBN\u2019s comments come as cash scarcity worsened nationwide despite the apex banks\u2019 directive to Nigerian […]<\/p>\n","protected":false},"author":84,"featured_media":142365,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,29,28,2660],"tags":[503,1623,254],"class_list":["post-142366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-to-homepage","tag-cbn","tag-naira","tag-nigeria"],"yoast_head":"\nCash scarcity: CBN gives update on validity of old N1000, 500, N200 Naira notes - Nigeria<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria has reiterated that the old N1000, N500, and N200 denominations remain valid and legal tende ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cash scarcity: CBN gives update on validity of old N1000, 500, N200 Naira notes\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria has reiterated that the old N1000, N500, and N200 denominations remain valid and legal tende ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-13T22:43:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-13T23:44:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/12\/sm_1734120862.384699.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"960\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Cash scarcity: CBN gives update on validity of old N1000, 500, N200 Naira notes\",\"datePublished\":\"2024-12-13T22:43:08+00:00\",\"dateModified\":\"2024-12-13T23:44:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes\"},\"wordCount\":371,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/12\/sm_1734120862.384699.jpg\",\"keywords\":[\"CBN\",\"naira\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"homepage-english\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cash-scarcity-cbn-gives-update-on-validity-of-old-n1000-500-n200-naira-notes\",\"name\":\"Cash scarcity: CBN gives update on validity of old N1000, 500, N200 Naira notes - 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