Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Nigeria central bank says old naira notes still legal tender

    Nigeria central bank says old naira notes still legal tender

    March 14, 2023
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Counting the Naira.

    Abuja — Nigeria’s central bank will allow old bank notes to continue as legal tender until year-end to comply with a court order earlier this month, the bank said in a statement late on Monday, raising hopes this would ease acute cash shortages in the economy.

    The Supreme Court on March 3 ordered the Central Bank of Nigeria (CBN) to extend until Dec. 31 the use of old 1,000, ($2.17) 500 and 200 naira notes, whose initial withdrawal from circulation became an election issue after it caused widespread hardship and anger.

    CBN said it was complying with the law and that the old notes would circulate with new ones of equivalent value.

    In a country where most people rely on cash for everything from buying food from markets to taxi fares, the shortages of naira bills has riled citizens, some of whom have attacked banks and burned cash-dispensing machines.

    *Camillus Eboh; MacDonald Dzirutwe; Editing: Sandra Maler – Reuters

    Follow us on twitter

    Related News

    Nigeria’s external reserves hit $23bn as FG targets investment-led growth

    AfDB strengthens capacity to tackle illicit financial flows

    FG, States, LGCs share N1.659 revenue in May 2025

    E-book
    Resilience Exhibition

    Latest News

    Oil prices drop nearly 6% as Israel-Iran ceasefire reduces Middle East supply risk

    June 24, 2025

    Edun meets downstream leaders to deepen energy reforms & drive investment in CNG

    June 24, 2025

    NDDC eyes Cross River for IOCs-driven infrastructure partnership push

    June 24, 2025

    Nigeria targets 10,000 jobs, skills transfer in $400m minerals processing plant

    June 24, 2025

    RMDB meets stakeholders, unveils ambitious maritime development blueprint

    June 24, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.