The Central Bank of Nigeria (CBN) has extended the legal tender status of the old N200, N500, and N1,000 banknotes indefinitely.

The decision aligns with international best practices and aims to avoid past challenges. CBN encourages the public to adopt alternative payment methods like e-channels.

All denominations of Naira banknotes, both old and redesigned, will continue to be accepted by CBN branches nationwide. The extension provides more time for the public to exchange old banknotes for new ones.