Don’t panic! Your old Naira notes is not expiring

In a statement on Friday, CBN’s acting Director of Corporate Communications, Mrs. Hakama Sidi Ali debunked widespread claims of a 31 December 2024 deadline for using old banknotes, describing them as “misinformation”.

The CBN emphasised that the clarification is in line with the Supreme Court’s ruling of 29 November 2023, which permits the indefinite concurrent circulation of all versions of these denominations.

“The bank’s previous clarifications and to offer further assurance, the CBN wishes to reiterate that the subsisting Supreme Court ruling granted oon29 November 2023, permits the concurrent circulation of all versions of the N1000, N500, and N200 denominations of the naira indefinitely”, the statement read.

The regulator urged the public to use banknotes for their daily transactions and to handle them with care to ensure their longevity.