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We Have No Plans Of Withdrawing New Naira Notes From Circulation – CBN


We Have No Plans Of Withdrawing New Naira Notes From Circulation – CBN

The Central Bank of Nigeria (CBN), has said that it has no plans of withdrawing the new naira notes from circulation as being alleged.

The rebuttal was contained in a statement signed by Isa AbdulMumin, Acting Director, Corporate Communications, CBN.

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The statement read in parts;

“We wish to reiterate that the new and old currency notes have been circulating side by side just as the Bank has been taking delivery of a good quantity of the redesigned bank notes from the Nigerian Security Printing and Minting Company Limited.


“Furthermore, we are committed to supplying the approved indent for the smooth running of the economy.


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“We, therefore, urge members of the public to disregard any report suggesting a phase-out of the redesigned currency. For the avoidance of doubt, the redesigned and old notes will continue to be accepted as legal tender.


“They will circulate side-by-side for transactions ahead of the December 31, 2023 deadline, when the old N1000, N500 and N200 banknotes will eventually be phased out.”

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