Skip to main content

Breaking News! President Muhammadu Buhari Insists Old N500, N1,000 Notes No Longer Valid, Approves Old N200 Notes

On Thursday morning the Nigerian President announced via a nationwide broadsheet to Nigerians, that the N500, N1,000 are no longer valid.

He also apologised to Nigerians over the difficulties experienced in accessing the scarce newly redesigned Naira notes.

Last week, the Supreme Court had given an interim order for the continued use of all the old notes until it finally rules on the suit filed by some state governors.

However while sitting on Wednesday, the Supreme Court did not reverse that order, hence its validity remains. But the court adjourned the suit to 22 February.

Extract from the President's speech below;

"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,”  Buhari said.

“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.”


Comments

  1. Anonymous16 February 2023 at 01:57

    It is a good development.
    But will happen in the north where the governors are insisting using the old Naira notes?

    ReplyDelete

Post a Comment

Type your comments here

Popular posts from this blog

Presidential Election Tribunal-Kenneth Okonkwo, others Represent Peter Obi

Prolific Nollywood actor and spokesperson for the Labour Party Presidential Campaign Council, Kenneth Okonkwo, has revealed via a post on his Twitter page, the lawyers that will be representing the party’s presidential candidate, Peter Obi, in the court of appeal. Kenneth Okonkwo Kenneth Okonkwo said; “We have a formidable team of legal luminaries representing #PeterObi. From left is the head of the team, Livy Uzoukwu SAN, Awa Kalu SAN, Benbella Anachebe SAN, Kenneth Okonkwo Esq and a host of other experienced lawyers. May God grant us the wisdom to recover the people’s mandate.” The pre-hearing of petitions challenging the outcome of the February 25 presidential election commences today at the Presidential Election Petitions Tribunal.
Post a Comment
Read more

Prince Charles, Prince Of Wales, Reportedly Accepted Suitcase With 1 Million Euros From Qatari Sheikh

A British newspaper, the Sunday Times, reported the Prince of Wales once accepted a suitcase containing €1 million ($1.05 million) in cash from a Qatari politician. The paper says this was one of three cash donations from Sheikh Hamad bin Jassim totalling three million euros. The suitcase containing €1 million in cash was one of three lots of cash he personally received, totaling €3 million, from former Qatari Prime Minister Sheikh Hamad bin Jassim bin Jaber Al Thani between 2011 and 2015.  The Sunday Times reported on one occasion, Sheikh Hamad gave Prince Charles €1 million reportedly stuffed into carrier bags from the upmarket London department store, Fortnum and Mason. On another occasion, Prince Charles accepted a duffel bag containing €1 million during a private one-on-one meeting at Clarence House in 2015, the Sunday Times reports. The Sunday Times reports the payments were deposited into the accounts of the Prince of Wales's Charitable Fund (PWCF), an entity that bankrolls ...
1 comment
Read more

Ghana's Afua Asantewaa Sing-A-Thon

Ms Afua Asantewaa, Ghanaian media personality has completed a five-day singing marathon. Afua Asantewaa Wrapped in her country's flag, she thanked the crowd of supporters in the capital, Accra, for their immense support, in hopes her performance will earn her a Guinness World Record. Beginning on Christmas Eve, Asantewaa performed for 126 hours and 52 minutes. Beating a previous sing-a-thon record by nearly 24 hours, the clearly exhausted, 33-year-old could barely remember what day it was. According to the rules set by Guinness World Records she was allowed a five-minute break every hour, or 20 minutes after four hours. She now has to wait to see if her effort will be officially recognised.  Some of the country's biggest music stars, were there on Christmas day to cheer her up, they included, Stonebwoy, Shatta Wale and Sarkodie. Vice-President Mahamudu Bawumia also came along plus a host of actors, actresses and influencers. They heard Ms Asantewaa cycle through 125 songs picke...
Post a Comment
Read more