CBN To Flood Banks With Old Naira Notes

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This decision is anticipated to put an end to months of hardships and suffering endured by Nigerians as a result of the CBN’s contentious currency redesign strategy, which has led to a significant shortage of both old and new naira notes throughout the nation.

After the Supreme Court ruled that old N1,000, N500, and N200 notes should continue to be valid until December 31, 2023, the CBN made its most recent decision a few weeks later.

Top CBN and commercial bank officials told The PUNCH on Wednesday night that CBN Governor Godwin Emefiele has instructed DMBs to start giving out old N1,000, N500, and N200 notes to the public. He claims that the CBN will also begin issuing old notes to commercial banks.

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