Old naira notes na legit money forever - CBN

Old Nigeria naira notes of N200, N500 and N1,000 go remain legit money for Nigeria indefinitely.

Dis na di latest announcement from di Central Bank of Nigeria (CBN), as naira scarcity continue to affect di kontri economy.

On Tuesday CBN for one statement announce say dem don extend “di legal tender status deadline of di old design of N200, N500 and N1,000 denominations, ad infinitum” or forever.

For one statement, di bank Director of Corporate Communications, Isa AbdulMumin, say CBN go continue to give plus collect both di old and new design of all bank notes from commercial banks.

“Di general public dey under order to continue to accept all Naira banknotes (old or redesigned) for day-to-day transactions and handle dis banknotes wit di highest care, to preserve and protect di lifecycle of di banknotes,” im add.

E say di bank decision to extend di use of old and new design togeda forever na sake of say, dis na di way wey dem dey do am all over di world and di idea na to “prevent di experience wey bin happun before from repeating im sef.”

One week ago, di number one bank for Nigeria bin try give Nigerians assurance say di kontri get enough naira notes so no need for pipo to withdraw money sake of fear.

But dis announcement still bin no dey enough to make Nigerians panic. Pipo begin withdraw plenty money, dis come cause one kain fake scarcity.

But why di panic and fake scarcity?

Nigeria goment under President Muhammadu Buhari and former CBN Govnor Godwin Emefiele, bin introduce new N200, N500, N1,000 towards di end of 2022, come announce say di old note no go be legal money again by di end of December di same year.

Dat time, Emefiele argue say di decision go help di kontri fight inflation, kidnapping, vote buying for di 2023 general election wey di kontri bin dey plan few months before dat time.

Dis decision make di naira notes come scarce, sotay pipo bin dey buy and sell di currency like say na market dem dey sell.

Di kontri experience violent protests for some parts as angry frustrated Nigerians enta road do I-no-go-gree.

Supreme Court get to give order to stop di top bank from applying im deadline for di use of di old banknotes.

Tinubu wey bin just enta office dat time, promise Nigerians on im inauguration day say im goment go review di policy plus “treat both currencies as legal tender.”

CBN later come extend di use of di two currencies until di end of December 2023, wen di old notes go stop to be legal money.

However, now, di new CBN Govnor, Yemi Cardoso don tok say weda na old note or new note, all of dem na legal money for di konri, and na so e go remain indefinitely.