The Central Bank of Nigeria, CBN has announced its intention to extend the validity of the old N200, N500, and N1,000 notes indefinitely.
According to the bank, it is working with the relevant authorities to vacate the subsisting court ruling on the same subject.
The bank disclosed this in a statement signed by the Director, Corporate Communications, Isa AbdulMumin, on Tuesday.
He enjoined the general public to continue to accept all Naira banknotes, old or redesigned for day-to-day transactions and to handle the banknotes with utmost care, to safeguard and protect the lifecycle of the banknotes.
He also enciuraged the general public to embrace alternative modes of payment, e-channels, for day-to-day transactions.