Until December 31, 2023, the old N200, N500, and N1,000 notes will continue to be accepted as legal tender, according to the Central Bank of Nigeria (CBN).
Isa AbdulMumin, the acting director of corporate communications for the apex bank, made this announcement in a statement on Monday.
According to AbdulMumin, the CBN made its conclusion in light of the Supreme Court's order from March 3, 2022.
In light of this, the CBN convened with the Bankers' Committee and decided that the existing N200, N500, and N1000 banknotes should continue to be accepted alongside the new banknotes through December 31, 2023.
The statement said, in part, "Thus, all concerned are directed to conform accordingly".
The CBN released a statement after President Muhammadu Buhari disclaimed responsibility for the apex bank's refusal to follow the highest court's orders.