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 President Muhammadu Buhari Insists Old N500, N1,000 Notes No Longer Valid, Approves Old N200 Notes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Thursday morning the Nigerian President announced via a nationwide broadsheet to Nigerians, that the N500, N1,000 are no longer valid.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

Inspiration

Be Inspired! A very poor woman called a radio station asking for help from God. A non-believer who was also listening to this radio program decided to make fun of the woman. He got the woman's address from the radio station and told his secretary to carry a large amount of foodstuff to the woman.  However, he gave the following instruction; "When the woman asks who sent the food, tell her that it's from the devil." When the secretary arrived at the woman's house, the woman was happy and grateful for the help received. She started putting the food packets inside her small house.  The secretary then asked her, "Don't you want to know who sent the food?" The woman replied, "No, I don't care... because when GOD orders, even the DEVIL obeys! Have a blessed day ahead. 🤣😅🤣😅🤣😅🤣 Image: iStock

Breaking! Nigerians, Meet Your Ministers, And Their Portfolios

The newly appointed ministers were administered portfolios by President Bola Ahmed Tinubu. Please see the list of Ministers and their portfolios below: LIST: Minister of Communications, Innovation and Digital Economy, Bosun Tijani Minister of State, Environment and Ecological Management, Ishak Salaco  Minister of Finance and Coordinating Minister of the Economy Wale Edun Minister of Marine and Blue Economy, Bunmi Tunji Minister of Power, Adedayo Adelabu Minister of State, Health and Social Welfare, Tunisia Alausa Minister of Solid Minerals Development, Dele Alake Minister of Tourism, Lola Ade-John Minister of Transportation, Adegboyega Oyetola Minister of Industry, Trade and Investment, Doris Anite Minister of Innovation Science and Technology, Uche Nnaji Minister of State, Labour and Employment, Nkiruka Onyejeocha Minister of Women Affairs, Uju Kennedy Minister of Works, David Umahi Minister of Aviation and Aerospace Development, Festus Keyamo Minister of Youth, Abubakar Momoh Min...

You And Your Health - Take A Walk For Better Health

Walking indeed is one of the best forms of exercise.  Your body will love it!  It is the perfect way to also rid yourself of daily stress. Benefits Of Walking: ● Walking will increase your energy level. ● Strengthen your bones and muscles. ● Walking will help you, maintain a healthy body weight. ● It can assist lower blood pressure. ● Walking will improve sleep. ● Walking also helps reduce your risk of chronic conditions like type 2 diabetes, heart disease, and many types of cancer, ● Walking can help with depression and anxiety, and dementia.  ● Walking improves memory, mood and cognition. ● Walking improves posture and boosts balance plus coordination. ● Walking can assist to strengthen the immune system In a nutshell, walking is an excellent way to stay fit, and mentally alert.  Regular physical activity helps improve your overall health. Try walking for at least 30 minutes a day, yes you can, on most days of the week.  If trying to lose or control weight, in...