If we can recall, it’s been confirmed that the central bank of Nigeria plans on redesigning the 200, 500, and 1000 notes. A countdown to Jan 31 which is the official deadline for the notes currently in circulation.
Dec 15 has been announced by the central bank as the day when the official circulation of the new notes will start. However, the old notes will remain in the legal tender from now till Jan 31.
Godwin Emefiele, the CBN Governor has advised Nigerians to go and deposit the old notes of the specific denominations in the bank, as all the banks have been mandated to work for Monday to Saturday, and all charges for deposits have been stopped for now.
As anything from Jan 31, the old notes will no longer remain legal tender
