FRESH : President Buhari extends the validation of old N200 note till April 10, 2023
In a bid to ease the burden on Nigerians amidst the ongoing economic challenges, President Muhammadu Buhari has announced the extension of the validity of old N200 notes until April 10. This move is expected to bring some relief to citizens who may have been struggling with the economic downturn in the country.
During a national broadcast on Thursday morning, the President stated that all existing old N1000 and N500 notes remain redeemable at the Central Bank of Nigeria (CBN) and designated points. This gesture by the President shows his administration's commitment to ensuring that Nigerians can have access to their funds without any undue hindrances.
As we navigate through these trying times, the government recognizes the importance of implementing policies that ease the financial burden on the citizens. This decision to extend the validity of the old N200 notes is a step in the right direction towards achieving this goal.
The Central Bank of Nigeria (CBN) has also reiterated its commitment to ensuring that there is adequate cash supply in circulation to meet the demands of Nigerians. Therefore, citizens can rest assured that their funds are safe and accessible.
“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,” the president said.
In conclusion, the extension of the validity of the old N200 notes by President Buhari is a welcome development that will undoubtedly have a positive impact on the lives of Nigerians. It is a testament to the government's commitment to implementing policies that promote financial inclusivity and reduce economic hardship.
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