President Buhari Approves Use of N200 only for Next 60 days

In the broadcast, the President direct the Central Bank of Nigeria to release into circulation the old bank of N200 for the next 60 days, while the old N500 and N1000 remains redeemable at the CBN designated points.


Key areas of the broadcast are represented here for ease of understanding and further instruction.

 – To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.

 – In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.

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