Buhari has approved the use of the old N200 note till April 10.
President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to release old N200 notes into circulation to co-exist with new N200, N500 and N1,000 banknotes till April 10.\
He, however, said old N500 and N1,000 banknotes are no longer legal tender in Nigeria.
The President made this known on Thursday morning during a live broadcast to Nigerians.
He also apologized to Nigerians over the difficulties experienced in accessing the scarce new naira notes.
He said, “During the extended phase of the deadline for currency swap, I listened to invaluable pieces of advice from well-meaning citizens and institutions across the nation.
“I similarly consulted widely with representatives of the State Governors as well as the Council of State. Above all, as an administration that respects the rule of law, I have also noted that the subject matter is before the courts of our land and some pronouncements have been made.
“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.”
