The President Muhammadu Buhari has said that the old N500 and N1,000 banknotes are no longer legal tender in the country.
The president made this known on Thursday morning during an address to Nigerians where he also apologised to Nigerians over the difficulties experienced in accessing the scarce new naira notes.
He however said that the old N200 note will be legal tender for the next 60 days, till April 10, 2023, while asking Nigerians to deposit their old N500 and 1000 notes with the CBN.
The president said, “Let me re-assure Nigerians, that strengthening our economy, enhancing security, and blockage of leakages associated with illicit financial flows remain the top priority of our administration. And I shall remain committed to my oath of protecting and advancing the interest of Nigerians and the nation, at all times.