President Muhammadu Buhari has said old 500 and 1000 naira notes have ceased to be legal tender since February 10.
Buhari, however, approved the continued use of the old 200 naira notes as a legal tender until the 10th of April.
Buhari announced the approval in a nationwide broadcast on Thursday.
The president stated that the old 200 naira notes will be distributed back into circulation.
The naira redesign policy has become a contentious issue with the situation of things degenerating into a full-blown melee in some parts of the country as people troop to the streets to protest the scarcity of the naira.
Discussion about this post