President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to continue to accept the old N200 note as legal tender up to April 10 this year while old N500 and N1,000 notes can be redeemed henceforth, only at the CBN designated points.

In a nation-wide broadcast this morning, February 16, the President said that the shift in the implementation of the new monetary policy is meant to further ease the supply pressures, particularly to Nigerians.

“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 notes ceases to be legal tender.”

President Buhari said that in line with Section 20(3) of the CBN Act 2007, all existing old N1,000 and N500 notes remain redeemable at the CBN and designated points...

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https://politics360.ng/old-n200-remains-legal-tender-till-april-as-old-n500-n1000-lose-out-buhari/