President Buhari has approved the use of the old N200 concurrently with the new notes to 60 Days (February 10th to April 10th, 2023).

He approved the reintroduction of the old N200 notes to be used as legal tender alongside the new currencies.

He made these known earlier today in a national broadcast where he gave reasons for the policy.

Old N500 and N1,000 no longer legal tender but can be deposited with the CBN and other approved outlets.

“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.
“Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CBN” he said.

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Breaking News: President Buhari Approves Use of Old N200 Notes to April 10th