Old 500 And 1000 Naira Notes Are Now Legal Tender – CBN Reveals

The Central Bank of Nigeria said that both old and new notes are now legal tender.

The Acting Director of Corporate Communications CBN, Dr Isa Abdulmumin disclosed this on Tuesday.

He affirmed that commercial banks have started issuing both the old and new notes to their customers.

But insisted that the apex bank is yet to issue official statement.

He said, “Banks are paying old notes as well as new notes. They are all legal tender.

“Yes, the CBN has not issued an official statement on the issue. Anyone banks give to you, you can collect. We just want to make life easy for Nigerians.”

Last week, the Supreme Court gave its verdict on Naira redesign, directing the federal government to allow the validity of N200, N500 and N1000 notes till 31 December.

In response to the ruling, DAILY POST gathered on Monday that some banks in Abuja and Lagos have started issuing the old notes to customers.

But, traders, business owners and motorists are not accepting the old notes.