Business News

BREAKING: CBN insists old and redesigned naira remain legal tender across the country

The Central Bank of Nigeria (CBN) has directed all its branches across the country to continue to issue different denominations of the old and redesigned banknotes in adequate quantities to deposit money banks.

The apex bank has also maintained that every banknote that it has issued remain legal tender and should not be rejected by anyone.

This disclosure is contained in a public statement issued by the CBN on Wednesday, November 8, 2023, and can be seen on its official X (formerly Twitter) account.

This follows reports of scarcity of cash across some major cities in the country despite initial assurances by the CBN of sufficient cash stocks in all locations across the country.

The statement from CBN reads,

More to follow…