President Buhari has directed the Central Bank of Nigeria (CBN) to release old N200 notes into circulation to co-exist with the new N200, N500 and N1,000 banknotes for 60 days.
Speaking in a nationwide broadcast on Thursday morning, February 16, the president directed that the old N200 notes be reintroduced into circulation to run with the new N200, N500 and N1000 naira notes for 60 days beginning from February 10, 2023 to April 10, 2023.
In his words ‘’2023 the nation would be electing a new President and National Assembly members. I am aware that this new monetary policy has also contributed immensely to the minimization of the influence of money in politics.
This is a positive departure from the past and represents a bold legacy step by this administration, towards laying a strong foundation for free and fair elections.
I urge every citizen therefore, to go out to vote for their candidates of choice without fear, because security shall be provided and your vote shall count.
I however admonish you to eschew violence and avoid actions capable of disrupting the electoral processes. I wish us all a successful General Elections.”
He, however, said the old 500 and 1000 naira notes have ceased to be legal tender.