• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Currencies

CBN begins countdown to the expiration of old N1,000, N500, N200 notes

Samson Akintaro by Samson Akintaro
January 6, 2023
in Currencies, Markets
Nigeria’s external reserves falls to 18 months low
Share on FacebookShare on TwitterShare on Linkedin

Amid complaints that the new naira notes are not fully in circulation, the Central Bank of Nigeria (CBN) has launched a countdown to the January 31 deadline when the old N1,000, N500, and N200 notes will cease to be legal tender.

Unveiling the countdown on its Twitter page on Friday, the apex bank said the deadline now remains 24 days and a few hours.

The CBN added that “the current series of N200, N500, and N1,000 notes remain legal tender until the deadline of January 31, 2023.”

RelatedStories

Naira , dollar, exchange rate

Exchange rate disparity returns as Naira appreciates to N1,545/$ officially, depreciates to N1,605/$ on parallel market 

June 21, 2025
Ugodre Obi-Chukwu named EY Entrepreneur (emerging category) of the year 2023

Banking sector sell-offs present buying opportunity — Nairametrics CEO, Ugodre Obi-Chukwu 

June 19, 2025

CBN begins countdown to the expiration of old N1,000, N500, N200 notes

Nigerians react: Meanwhile, reactions from Nigerians have trailed the countdown on Twitter, with many people faulting the CBN for insisting on the deadline without making enough notes available. Reacting to the bank’s countdown, a Twitter user, Edidiong Enwe said:

  • “Till today I haven’t had any new notes. Quite okay I’ve seen just 1000 notes with someone. I’m staying in a student area where we expect quick circulation of money. How then do you give 3 weeks countdown? Do something about it before you start a countdown”

Another tweep, Benedict Nwokoye, lamented about the scarcity of the new notes and wondered how it would be possible to phase out the new notes on January 31. He said:

  • “Like seriously? I went to withdraw money from the ATM (first bank) and was given old notes. I went to the counter to ask for the new notes, I was told I’ll not be given more than 10,000.00. How can the dates be possible when banks are still dispensing old notes?”

Also reacting to the CBN’s countdown, a Twitter user who identified himself as Mr A, said:

  • “How will the old notes be stopped in 24 days? Some of us haven’t even set our eyes on them and yet they’re in circulation.”

For Eddie Onos, the CBN has not shown any seriousness with the deadline. He said:

  • “Can we be serious for once, please? As of today, ATMs and banks are still dispensing the old notes that are supposed to become illegal tender by the 31st of this month. The financial institutions ought to have stopped issuing them out by now.”

National Assembly’s call: The Nigerian Senate had last month urged the CBN to extend the deadline on old naira notes withdrawal from 31st January to 30th June 2023. Senator Ali Ndume cited Orders 41 and 51 to seek the leave of the Senate to move a motion on the urgent need to extend the withdrawal of old currency from circulation.

Also, Senator Uzor Kalu urged the CBN to go “as far as April ending to enable people to deposit their cash in banks.”

However, with the beginning of the countdown today, the CBN seems not to be deferring to the National Assembly’s call.


Follow us for Breaking News and Market Intelligence.
Tags: CBNcountdown
Samson Akintaro

Samson Akintaro

Samson Akintaro is a tech enthusiast and has over a decade experience covering and writing about the tech industry. He is currently the Tech Analyst at Nairametrics.

Related Posts

Naira , dollar, exchange rate
Currencies

Exchange rate disparity returns as Naira appreciates to N1,545/$ officially, depreciates to N1,605/$ on parallel market 

June 21, 2025
Ugodre Obi-Chukwu named EY Entrepreneur (emerging category) of the year 2023
Financial Services

Banking sector sell-offs present buying opportunity — Nairametrics CEO, Ugodre Obi-Chukwu 

June 19, 2025
Wema Bank, Custodian Investment exits NGX 30 index
Financial Services

Agusto & Co upgrades Wema Bank rating to A- amid stronger financial performance 

June 19, 2025
CBN, forex
Bank Recapitalization

CBN says forbearance-affected banks under close supervision 

June 18, 2025
CBN, forex
Financial Services

No recapitalisation deadline extension for BDCs, CBN says 

June 11, 2025
CBN, forex
Financial Services

Private sector credit rises to N77.9 trillion in April 2025 

May 30, 2025
Next Post
2023: Over half of new PVCs remain uncollected in Lagos – INEC

2023 Elections: Over half of new PVCs remain uncollected in Lagos – INEC

Comments 13

  1. David. says:
    January 6, 2023 at 3:11 pm

    CBN me at do anytime nonsensical. The new notes are nowhere to be found let alone circulating sufficiently. CBN has no option than to extend the period.

    Reply
  2. Garnvwa I says:
    January 6, 2023 at 3:13 pm

    Commercial banks should stop issuing the old if CBN is insisting on 31st January,2024 deadline.

    Reply
    • John says:
      January 7, 2023 at 5:08 pm

      ATM still dispensing old notes. Is it a joke!

      Reply
  3. chris says:
    January 6, 2023 at 6:47 pm

    CBN should monitor banks closely as the new naira notes released to most banks are given to the elite that stock old naira notes thereby new naira note not being available to the general public

    Reply
    • Jegede Adewale says:
      January 8, 2023 at 1:03 pm

      Were you there and hw do you know

      Reply
  4. Fatimehin Bamidele says:
    January 6, 2023 at 7:37 pm

    I’ve not gotten a single New note even the ATM machine is still dispensing OLD NOTES.How is the deadline visible?

    Reply
  5. SAMJ says:
    January 6, 2023 at 9:23 pm

    I know they will extend the time, they want to see the reaction of people.
    And they should tell the banks to stop giving out old money.

    Reply
  6. Habila I. Kwablang says:
    January 6, 2023 at 10:27 pm

    The new notes are said to wash off when they come in contact to water or wet clothes. So why is the government in a rush to introduce bad notes in place of the good ones in use now?

    Reply
  7. Hauwa Hassan says:
    January 7, 2023 at 4:02 am

    I think banks should not be giving out old notes to customers and in tispens
    With that, the new notes will common

    Reply
  8. Albert Olusanya says:
    January 7, 2023 at 11:46 pm

    If 31st is the deadline, by now the new currency supposed to have gone round the circulation.

    Reply
  9. Oluwaseun says:
    January 8, 2023 at 11:10 am

    When the ATM dispense Old notes on deadline date 31st then Police go arrest everybody then bcos where do they want us to spend it d following day

    Reply
  10. HAPPRAISE says:
    January 10, 2023 at 10:09 am

    CBN should please note that coming up with such policies within such short intervals of time shall definitely frustrate the efforts of many Nigerians

    Reply
  11. Adejoke says:
    January 27, 2023 at 11:11 am

    They should give us at least June or July everything is upsidedown what of market woman.foodseller.etc

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Select SWOOTs soar as All-Share nears 120,000; OKOMUOIL trades N3.2 billion value 
  • President Tinubu seeks stronger Nigeria-Denmark ties in livestock, education, and humanitarian efforts 
  • Governor Oyebanji pays N1.45bn to 195 landowners over Ekiti Knowledge Zone Project 

Follow us on social media:

Recent News

Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%

Select SWOOTs soar as All-Share nears 120,000; OKOMUOIL trades N3.2 billion value 

June 25, 2025
President Tinubu seeks stronger Nigeria-Denmark ties in livestock, education, and humanitarian efforts 

President Tinubu seeks stronger Nigeria-Denmark ties in livestock, education, and humanitarian efforts 

June 25, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics