Breaking: CBN Declares Old Naira Notes As Illegal Tenders

Despite the supreme court ruling, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has declared that the old N200, N500, N1,000 notes have ceased to become a means of exchange since February 10 deadline.

Lovetvnews Nigeria reports that Emefiele said the deadline was never shifted by the bank and that date earlier announced remains the same for use of old notes across the country.

The governor made the declaration on Tuesday while briefing the diplomatic community on the apex bank’s efforts to ease Naira availability at the Ministry of Foreign Affairs in Abuja.

“The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents. There is, therefore, no need to consider any shift from the deadline of February 10,” he said.

More details later…