President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to allow only the old N200 remain legal tender until April 10, 2023, in order to improve currency circulation in the country and ease pains experienced by Nigerians due to the decision to retire some denominations of the old banknotes after a currency redesign project.
Meanwhile the old N500, and N1,000 notes cease to remain legal tender, according to Buhari.
The president, who addressed the nation this morning counted the gains of the Naira redesign to include drop in inflation, reduced insecurity and improved monetary policy.
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