The Central Bank of Nigeria (CBN) has declared that the old Naira notes of N200, N500, and N1000 are no longer legal tender in Nigeria since February 10, 2023, in defiance of an ex parte order of the Supreme Court that restrained CBN from implementing the deadline.

The CBN’s branch controller in Bauchi, Haladu Idris Andaza, made the declaration during a briefing with journalists on Monday in Bauchi. He stated that the CBN is open to receiving old notes based on certain conditions and criteria, but that the currency is no longer legal tender since February 10.

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Commercial banks in Ilorin, the capital of Kwara State, are rejecting old Naira deposits from customers, and Nigerians in Delta, FCT, Lagos, Edo, and other parts of the country are also lamenting that transporters are not accepting the old banknotes