President Buhari has directed the Central Bank of Nigeria (CBN) to release old N200 notes into circulation to co-exist with the new N200, N500 and N1,000 banknotes for 60 days.
The President made this known in a nationwide broadcast this morning Thursday, February 16. He also directed the CBN to allow the new notes available to all citizens.
In his speech, the President stated that he authorized the CBN to carry out the redesigning of the Naira notes for the good of the economy as most of the printed Naira notres were unaccounted for.
He also apologized to Nigerians over the difficulty experienced in the implementation of the naira redesign policy.
To further ease the supply pressure, particularly on our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and it should also be allowed to circulate as legal tender with the new N200, N500 and N1,000 bank notes for 60 days he said.
He equally directed the CBN to collaborate with security agents and anti-corruption agents to ensure that no one sabotages the efforts of the Federal government.