In October 2022, the central bank of Nigeria introduced the redesigned N200, N500 and N1,000 denominations and certain deadlines were set for the old design of these denominations to cease as legal tenders.
Fast forward to earlier this year, Nigerians who had money in the banks and those who needed cash at hand had a tough time accessing it because of a ban on the usage of the old naira notes as the new notes in circulation then was insufficient.
Well, after much back and forth on the issue and several court pronouncements, the controversy surrounding the old naira notes has finally been put to rest.
The Central Bank of Nigeria has now extended the validity of the old N200, N500 and N1,000 notes indefinitely.

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