Old N500, N1,000 notes can be swapped at CBN, designated points, says Buhari

 

 

 

 

 

 

 

 

 

 

 

 

 

 

President Muhammadu Buhari says the old N500 and N1,000 notes can be swapped at the Central Bank of Nigeria (CBN) and designated points.

Buhari spoke in a national broadcast on Thursday.

“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 note ceases to be legal tender,” he said.

“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.”