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 President Muhammadu Buhari Insists Old N500, N1,000 Notes No Longer Valid, Approves Old N200 Notes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Thursday morning the Nigerian President announced via a nationwide broadsheet to Nigerians, that the N500, N1,000 are no longer valid.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

Professor Isah Odidi, 16 Others Appointed As Directors By The Peoples Democratic Party (PDP) Presidential Campaign Council

  Professor Isa Odidi and His Excellency the Waziri Adamawa, Atiku Abubakar. The Peoples Democratic Party Appoints Directors And Deputy Directors To Kick-Start Campaign.                                 Professor Isah Odidi, has been appointed as Director, Diaspora Group by the Campaign Organisation of the Peoples Democratic Party (PDP). This appointment was contain in a Press Release on Thursday, October 06, 2022 issued by the Campaign Organisation’s Director-General and Governor of Sokoto State, Aminu Tambuwal. Professor Isah Odidi, a distinguished pharmacist, an erudite scientist,  a technocrat and tireless researcher will indeed propagate the good virtues of the great party, the PDP and its Presidential candidate, Atiku Abubakar, in the Diaspora.  Professor Odidi, has always asserted that Atiku  Abubakar is a unifier and the best candidate to move the Nigerian nation forward, ushe...
8 comments
Read more

You and Your Health - Alzheimer's breakthrough'

A study from Sweden which has found that a blood test can detect the earliest stages of Alzheimer's disease, reports the BBC, while expansiating on it's report that;                   Image Credit: Scientific American   The Times says it could have "huge implications" for routinely screening the over-50s for their risk of the disease. The test - the paper reports - can detect the "proteins" which can cause Alzheimer's which build up in the brain for 10 to 15 years before symptoms start to show, and allowed researchers to assess how "likely" someone was to develop the disease. According to the Daily Express, the brand new diagnostic tool has been praised by experts as it may "ultimately bring us closer towards a cure for dementia". The Daily Telegraph takes the view the "simple and cheap method" can measure how likely people are to develop the illness up to 15 years before they show symptoms, citing research from the study.
Post a Comment
Read more

NLC To Embark On A Strike Action If....

The Nigeria Labour Congress (NLC), national president, Comrade Joe Ajaero, during the African Trade Union Alliance meeting in Abuja. Has issued a threat to embark on a nationwide strike without any notification if the pump price of fuel sells above the current price of N617. Media reports indicated an imminent increase in the price to N720. The NNPC Limited has not made any official announcement of a fuel price increment According to Ajaero, there were purported plans to further increase the pump price of petrol, which he expressed dismay that the development will cause additional and untold hardship on Nigerians. He said: “As we are here now, they are contemplating increasing the pump price of petroleum products, and the ministry of labour for some time now would only go to the Ministry of Justice to come up with a so-called injunction to hold the hands of Labour not to respond. But let me say this, Nigerian workers will not give any notice if we have not addressed the consequences of...
Post a Comment
Read more