President Muhammadu Buhari has announced the release of the old 200 Naira notes back into circulation for the next 60 days.
Buhari disclosed this on Thursday during a National broadcast on the challenges of currency swap and the state of the nation.
He said the old 200naira note when re-circulated will co-exist with new 200 notes.
Buhari also said the CBN has been directed to make more new notes available.
“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.
“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.”
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