Old Naira Notes: Deadline remains January 31, CBN affirms


The Central Bank of Nigeria (CBN) has affirmed that the deadline for exchange of the old Naira notes for new ones remains January 31, 2023.

The apex bank stated that: “The current series of N200, N500 and N1,000 notes remain legal tender until the deadline of January 31, 2023.”

This means that there is no official position as at today by the CBN to shift its earlier deadline, and a pointer to a resolve to phase out the old naira notes of 200, 500, and 1,000 denominations over the next few days.

The CBN had announced in October2022 that the old Naira notes would cease to circulate, and be legal tender from January 31, 2023.