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Despite Supreme Court order, CBN delists old ‎200, ‎500, ‎1000 naira notes as legal tender

Published

3 years ago

February 14, 2023

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The Central Bank of Nigeria (CBN) said old naira notes of ₦‎200, ₦‎500, ₦‎1000 notes are no longer legal tender in the country.

The CBN declared that the old ₦‎200, ₦‎500, ₦‎1000 notes ceased being legal tender in Nigeria on Friday, February 10, 2023.

CBN Branch Controller in Bauchi, Haladu Idris Andaza, while speaking to journalists made the disclosure.

“In the last 24 hours, we have been inundated by questions from various angles of the general public about our operational guidelines on the old currency notes, be that as it may, there are so many questions here and there which people have been asking about,” Andaza said.

“So for the avoidance of doubt, we wish to state categorically that CBN is ready and is opened to receive all of those old notes based on certain conditions and criteria. Customers are free to come to the Bank and deposit which they cannot do at the Commercial Banks anymore because the currency has seized to be a legal tender since the 10th of this month.

“Consequently, the management of the CBN decided that those customers will have a sigh of relief by coming to the offices of the CBN in all the 36 states in the Federation including FCT to deposit their money.

“The customer has to go to the CBN portal and fill a form in the portal, there will be a form there concerning this currency redesign and exchange. After filling the form, you generate a code, you either print it or come with it in your mobile phone, give us the code and the information contained therein. In the form, you are expected to provide all the basic information about yourself, your account details and the amount you want to deposit.

“By the time you have done it correctly, you come to the CBN where the code will be accepted from you as well as the money, process and confirm the genuineness or otherwise of the money to avoid receiving fake notes because there are some fake notes in circulation now.”

The CBN’s stance comes a week after three states – Kaduna, Zamfara, and Kogi State on Monday instituted a suit against the Federal Government at the Supreme Court over the scarcity of old and new Naira notes due to the CBN naira redesign policy

The state governments said they are worried about the effects the CBN naira redesign policy is having on the residents of their states.

They asked the Supreme Court for a restraining order to compel the government and CBN from implementing the policy.

The Supreme Court thereafter issued an interim injunction restraining the Federal Government from suspending the acceptance of the old Naira notes on the Friday, February 10, 2023 deadline

Related Topics:CBN LEGAL TENDER OLD NAIRA NOTES

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Eight bandits killed by bombs planted for troops in Niger state

Published

2 hours ago

March 22, 2026

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No fewer than eight suspected bandits have been killed by an improvised explosive device (IED) along Lukope road in Shiroro LGA of Niger state.

The incident, according to Zagazola Makama, a counter-insurgency publication focused on the Lake Chad region, occurred at about 8:30pm on Friday along the Kurebe–Kushaka axis, a known corridor for armed groups operating within the forest belt.

Citing sources, the publication said the IED, suspected to have been planted by the bandits to target advancing troops, detonated when members of the group accidentally rode over it while moving on motorcycles.

“The explosion occurred as the bandits were transiting the route, leading to the instant death of about eight of them and injuries to several others,” Makama quoted a source as saying.

The publication said the bandits were said to be loyal to Dogo Gide, a notorious bandit leader, and were reportedly heading towards the Lukope area.

Makama noted that troops of operation Fansan Yamma, sector 1, responded swiftly to the scene and intensified patrols to prevent further security breaches.

The publication added that the incident has heightened tension among residents of Kushaka, Kurebe, Gbato and neighbouring communities over fears of possible reprisal attacks.

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Good morning! Nigerian Newspapers Headlines: ADC crisis: Faction presses INEC to drop Mark, Aregbesola

Published

3 hours ago

March 22, 2026

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1. The rival factions in the African Democratic Congress have taken the tussle for the leadership of the party to the Independent National Electoral Commission, as the Nafiu Bala-led camp seeks to take over the party.

Sunday PUNCH learnt that Bala wrote to INEC, urging the commission to remove former Senate President David Mark and ex-Minister Ogbeni Rauf Aregbesola as Chairman and Secretary of the party, respectively

2. Fresh from his inauguration for a second term in office,Anambra State Governor Chukwuma Soludo has pledged to work for the reelection of President Bola Tinubu next year. The governor declared that he has no apology to tender to anyone for his decision.

3. U.S. Central Command has said American forces have struck more than 8,000 military targets in Iran, deploying heavy 5,000-pound bombs in a sustained campaign aimed at crippling Tehran’s military capabilities and securing key international shipping routes. Commander of U.S. Central Command, Admiral Brad Cooper, disclosed this in his latest operational update on Operation Epic Fury on Saturday, stating that the strikes were part of an intensified offensive designed to dismantle Iran’s ability to project power beyond its borders.

4. Former Presidential Aide, Laolu Akande, has said while the directive for the military high command to relocate to Borno State over last week’s attacks was commendable, President Bola Tinubu missed the opportunity of prioritizing empathy and showing sympathy at a time of renewed terrorist attacks in the North-East. He said Tinubu should have visited Borno before traveling.

5. Former Senate President Bukola Saraki, former Kaduna State Governor Ahmed Makarfi and former Information Minister Jerry Gana are among influential members of the Peoples Democratic Party currently locked in extensive meetings and consultations with other stakeholders to reconcile the party’s two factions ahead of next year’s elections. Their immediate task is to build a consensus before the March 29-30 PDP national convention in Abuja.

6. US military trainers deployed to Nigeria are using high-powered drones for surveillance and intelligence gathering, the Nigerian military said on Saturday. The troops, operating the drones from an air base in Bauchi state, are part of a deployment sent by the United States to train their Nigerian counterparts, who are battling jihadist militants.

7. The All Progressives Congress has announced plans to screen aspirants seeking to contest for national offices at its 2026 national convention. In a notice issued by the Aspirants’ Screening Committee, the party invited all aspirants who have successfully purchased and submitted their Expression of Interest and Nomination Forms to attend the exercise

8. Vice President Kashim Shettima is set to formally welcome Governor Dauda Lawal of Zamfara State into the All Progressives Congress. The state APC Chairman, Tukur Maikatako, said Shettima would visit Gusau, the state capital, on Tuesday.

9. The All Progressives Congress has said it will not prevent any interested member from contesting its 2027 presidential ticket, despite the party’s adoption of President Bola Tinubu for a second term. Speaking on Saturday, the Deputy National Organising Secretary of the APC, Chidi Duru, said while the party might lean towards consensus, it remains open to aspirants willing to test their popularity.

10. The Police Command in Delta State has confirmed the arrest of 11 additional suspects linked to Thursday’s alleged sexual assault in Ozoro community. Spokesperson, SP Bright Edafe, disclosed this in a statement issued on Saturday in Asaba, following a crackdown on those allegedly involved.

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US deploys drones, troops for Nigeria’s anti-terror war

Published

11 hours ago

March 21, 2026

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The United States has reportedly deployed multiple MQ-9 drones alongside 200 troops to Nigeria to provide training and intelligence support to the country’s military in its fight against Islamist militants, according to Reuters.

The report quoted officials of both countries as saying that the troops are not integrated within Nigerian units on the frontline, adding that the drones are also collecting intelligence and not carrying out air strikes.

“We see this as a shared security threat,” a US defence official was quoted as having said.

It was earlier reported that a drone refuelling station was part of the demands made by the US in the security partnership formed with Africa’s largest democracy following President Donald Trump’s redesignation of Nigeria as a country of particular concern.

According to report by TheCable, Nigeria had agreed to the demand and designated a north-eastern state to host the facility.

The defence headquarters (DHQ) subsequently said 100 US military personnel and associated equipment arrived at Bauchi airfield.

Samaila Uba, DHQ director of defence information, said the deployment followed the security agreement between Nigeria and the US.

Uba told Reuters in the Saturday report that the US was operating its assets from the north-east state.

“This support builds on the newly established US-Nigeria intelligence fusion cell, which continues to deliver actionable intelligence to our ‌field commanders,” ⁠he said.

“Our US partners remain in a strictly non-combat role, enabling operations led by Nigerian authorities.”

Uba said the timeline for the US deployment in Nigeria would be determined in agreement by both sides.

MQ-9 drones, which are sometimes known as ‘Reaper drones’ and can loiter at high altitude for more than 27 hours, can be used for both intelligence gathering and air strikes.

However, officials from both sides did not disclose instances where US intelligence had ⁠aided Nigerian troops targeting militants, but Uba said that US forces are helping Nigeria “identify, track and respond to terrorist threats”.

Advanced drones can fire precision shots using mounted weapons like rifles, missiles, or guided munitions, achieving high accuracy in tests and operations.