Old 500 and 1000 Naira notes are now legal tender – CBN

The acting Director of Corporate Communications, Dr. Isa Abdulmumin of CBN disclosed that both old and new Naira notes are now legal tender.

It will be recalled that last week, the Supreme Court gave its verdict on the Naira redesign, directing the federal government to allow the validity of N200, N500, and N1000 notes till 31 December.

According to the report, Isa affirmed that commercial banks have started issuing both old and new notes to their customers, although the apex bank is yet to issue an official statement.

He said:

“Banks are paying old notes as well as new notes. They are all legal tender.

Yes, the CBN has not issued an official statement on the issue. Anyone banks give to you, you can collect. We just want to make life easy for Nigerians. No. They can’t reject it. It’s all legal tender,”

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