The Central Bank of Nigeria (CBN) has reiterated that the old series of ₦1000, ₦500, and ₦200 denominations remain valid and legal tender, contrary to misinformation circulating that they would cease to be legal tender on December 31, 2024.

According to the CBN, the Supreme Court ruling granted on November 29, 2023, permits the concurrent circulation of all versions of the ₦1000, ₦500, and ₦200 denominations indefinitely.

The CBN has advised the public to disregard any claims suggesting that the old series of banknotes will cease to be legal tender. Instead, Nigerians are urged to continue accepting all Naira banknotes (both old and redesigned) for their daily transactions.

To reduce pressure on physical cash, the general public is encouraged to explore alternative modes of payment, such as e-channels.

The CBN’s clarification was issued by Sidi Ali, Ag. Director, Corporate Communications, on December 13, 2024.