Deadline to exchange old naira notes remains Jan 31 – CBN

The Central Bank of Nigeria (CBN) has declared that the deadline for exchange of the old naira notes for new ones remains January 31, 2023 and that it is not ready to extend it.

It stated this on its official twitter handle @cenbank.

The apex bank wrote, “The current series of N200, N500 and N1,000 notes remain legal tender until the deadline of January 31, 2023.”

This is the official position as of the weekend when the statement was posted by the CBN.

Last October, the CBN had announced that the old banknotes would cease to circulate, and be legal tender from January 31, 2023 after detailing a number of reasons for the action.

The announcement had sparked various reactions from the public, which in part, informed the call by the National Assembly for CBN to extend the deadline of January 31, 2023.