President Muhammadu Buhari extends the use of old N200 by 60 days

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.

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.Residents in Bayelsa state decries the impact of the redesigned naira notes

Buhari assured Nigerians that his government would continue to assess the implementation with a view to ensuring that Nigerians are not unnecessarily burdened.

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