• Latest
  • Trending
House of Reps urges CBN to expedite withdrawal of old notes ahead of 2025 deadline

No deadline for old naira notes circulation — CBN

Ebonyi Government Raises Minimum Wage to N90K for Workers

Ebonyi Government Raises Minimum Wage to N90K for Workers

Nigerian Govt gifts Teenager who Won Global English Contest N200K

Nigerian Govt gifts Teenager who Won Global English Contest N200K

President’s Son Jailed Over Secret Sale of National Airline Plane

President’s Son Jailed Over Secret Sale of National Airline Plane

Kogi Final-Year Student Dies During 6-Month Pregnancy Abortion

Kogi Final-Year Student Dies During 6-Month Pregnancy Abortion

Tinubu Govt Backtracks as Japan Denies ‘Special Visa’ for Nigerians

Tinubu Govt Backtracks as Japan Denies ‘Special Visa’ for Nigerians

Delta Police Nab Officers Caught Counting Extorted Cash in Viral Video [Watch]

Delta Police Nab Officers Caught Counting Extorted Cash in Viral Video [Watch]

Uzodimma Raises Imo Minimum Wage to ₦104,000

Uzodimma Raises Imo Minimum Wage to ₦104,000

Friday, August 29, 2025
  • Login
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
iDeemlawful
No Result
View All Result
iDeemlawful
No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • LifeStyle
  • Advertise with Us
  • Opinion
  • Campus
Home Business News

No deadline for old naira notes circulation — CBN

by Usama OLAGUNJU
October 25, 2024
in Business News
A A
0
House of Reps urges CBN to expedite withdrawal of old notes ahead of 2025 deadline

The Central Bank of Nigeria (CBN) has dismissed reports suggesting that the old N200, N500, and N1,000 banknotes will cease to be legal tender on December 31, 2024.

In an official statement issued on October 24, 2024, and signed by Sidi Ali Hakama, the Acting Director of Corporate Communications, the CBN clarified that these claims are false and aimed at disrupting the country’s payment system.

The CBN’s clarification comes amidst widespread discussions regarding the status of old Naira banknotes, following the bank’s recent redesign initiative.

The statement reaffirmed that the Supreme Court’s ruling on November 29, 2023, extending the validity of the old Naira notes indefinitely remains in effect.

SeeThese

Nigerian Banks resume International Transactions on Naira Cards

CBN dragged to Court over ATM fee hike

Nigerians to Pay N500 per Withdrawal as CBN releases New ATM Transactions Charges

The Supreme Court granted the prayer of the Attorney-General of the Federation and Minister of Justice to allow the continued use of the old banknotes alongside the redesigned ones.

The CBN reiterated that its directive to all branches to continue accepting and issuing both old and redesigned Naira notes remains unchanged.

“All banknotes issued by the Central Bank of Nigeria (CBN) will continue to remain legal tender indefinitely,” the statement emphasised.

Nigerians were urged to disregard any suggestion that the old series of Naira banknotes will cease to be valid by the end of 2024.

The CBN also encouraged the public to handle all banknotes with care to protect their lifecycle and to embrace alternative payment methods, such as electronic channels, to reduce reliance on physical cash.

Ealier on Thursday, the House of Representatives tasked CBN with the need to sensitise Nigerians about the non-legal tender status of the old naira notes from the 1st of January, 2025.

The Leader of the Labour Party Caucus, Hon. Victor Ogene in his lead debate said “The House is aware that, going by the Supreme Court’s subsequent ruling and order, the N200, N500, and N1,000 notes shall cease to be legal tender, medium of exchange for goods and services in Nigeria, and shall also cease to be in circulation as from January 1, 2025.”

Tags: CBNNairaOld note
Share201Tweet126SendShare
Previous Post

House of Reps urges CBN to expedite withdrawal of old notes ahead of 2025 deadline

Next Post

Kogi gets Approval to Build International Airport

Usama OLAGUNJU

Usama OLAGUNJU

Next Read

NAFDAC raises concerns as Fake Cowbell Milk Floods Markets
Business News

NAFDAC raises concerns as Fake Cowbell Milk Floods Markets

...

Read more
EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud
Business News

EFCC detains NAHCON Top Official Over Alleged ₦50bn 2025 Hajj Fraud

...

Read more
NCAA orders Phones Off During Flights
Business News

NCAA orders Phones Off During Flights

...

Read more
Nigerian Government Hits Back as US Tighten Visa Rule
Business News

Nigerian Government Hits Back as US Tighten Visa Rule

...

Read more
9mobile Changes Name, Logo
Business News

9mobile Changes Name, Logo

...

Read more
CAC sets Deadline to delist 100,000 Dormant Companies
Business News

CAC sets Deadline to delist 100,000 Dormant Companies

...

Read more
Business News

After $3b repairs, NNPC Considers Selling Nigeria’s 445,000 bpd Refineries

...

Read more
31 African Countries Affected by 3-Month Validity of US Visa: FULL LIST
Business News

31 African Countries Affected by 3-Month Validity of US Visa: FULL LIST

...

Read more
Next Post
Kogi gets Approval to Build International Airport

Kogi gets Approval to Build International Airport

Recruitment: Police Release List Of Successful Candidates

Details Emerge as Suspected Killers of UNILORIN Graduate Arrested

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Senate Suspends Public Hearing on Tax Reform Bill

Senate Suspends Public Hearing on Tax Reform Bill

Black Sunday: Tragedy as Commercial Bus, Truck Collide in Lagos Claiming lives

Black Sunday: Tragedy as Commercial Bus, Truck Collide in Lagos Claiming lives

UAE delegation meets Tinubu to discuss visa ban on Nigerians

Most Popular

Ebonyi Government Raises Minimum Wage to N90K for Workers
Featured

Ebonyi Government Raises Minimum Wage to N90K for Workers

Nigerian Govt gifts Teenager who Won Global English Contest N200K
Campus News

Nigerian Govt gifts Teenager who Won Global English Contest N200K

President’s Son Jailed Over Secret Sale of National Airline Plane
International News

President’s Son Jailed Over Secret Sale of National Airline Plane

iDeemlawful

Copyright © 2019 iDeemlawful.

Useful Links

  • About Us
  • Advertise with Us
  • Editorial Policy

Follow Us

Copyright © 2019 iDeemlawful.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In