Following the Supreme Court's March 2023 ruling, the Central Bank of Nigeria initially delayed compliance, with officials citing a lack of formal communication regarding the nullification of the naira redesign policy. The bank eventually directed commercial banks to accept and dispense old banknotes, with the validity of these notes extended indefinitely as of late 2024. For the latest official statement, visit the CBN Facebook page .
Following the Supreme Court's March 2023 ruling, the Central Bank of Nigeria initially delayed compliance, with officials citing a lack of formal communication regarding the nullification of the naira redesign policy. The bank eventually directed commercial banks to accept and dispense old banknotes, with the validity of these notes extended indefinitely as of late 2024. For the latest official statement, visit the CBN Facebook page .