CBN confirms old N200, N500, N1000 banknotes remain legal tender, disproving expiration claims.

The Central Bank of Nigeria (CBN) has confirmed that old N200, N500, and N1,000 banknotes will remain legal tender indefinitely, refuting claims they would expire on December 31, 2024. This clarification follows a Supreme Court ruling allowing the continued use of both old and redesigned notes. The CBN encouraged the public to use all Naira banknotes for transactions and to adopt electronic payment methods to reduce reliance on cash.