Old Naira Notes: No Extension, January 31 Deadline Stands, CBN Tells Nigerians

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

On its official Twitter handle @cenbank, on Friday, the apex bank wrote, “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 of 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.

Last October, the CBN announced that the old Naira notes would cease to circulate and be legal tender from January 31, 2023, after detailing several reasons for the action.

The announcement sparked various reactions from the public, which in part, informed the call by the National Assembly for CBN to extend the deadline of January 31, 2023.