President Muhammadu Buhari has announced that old 200 naira notes will remain as legal tender till April 10, 2023.
VANTAGE NEWS reports that Buhari said this in a state-of-the-nation address delivered in the early hours of Thursday (today).
Buhari noted that he consulted with state governors and the Council of State over the matter.
He said, “I similarly consulted widely with representatives of the State Governors as well as the Council of State. Above all, as an administration that respects the rule of law, I have also noted that the subject matter is before the courts of our land and some pronouncements have been made.
“To further ease the supply pressures particularly to our citizens, 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.
“In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.”
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