The decision was taken to ease the stress Nigerians are passing through concerning the new notes.

President Muhammadu Buhari has extended the use of the old N200 notes as a legal tender by a futher 60 days.

The president annouced as he addressed Nigerians on Thursday, concerning the issues of naira scarcity.

Buhari also apologised to Nigerians for the stuggles and stress the new naira policy has caused them. According to him, the government is working hard to ensure the issue is resolved.

He said: “During the extended phase of the deadline for currency swap, I listened to invaluable pieces of advice from well meaning citizens and institutions across the nation.


“I similarly consulted widely with representatives of the State Governors as well as the Council of State. Above all, as an administration that respects the rule of law, I have also noted that the subject matter is before the courts of our land and some pronouncements have been made.

“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.”

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