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The Central Bank of Nigeria (CBN) has extended the deadline for exchanging the previous N200, N500, and N1,000 notes, which are a part of the three Naira series, until February 10th, 2023.
Nigerians who were upset by the disruption brought on by the introduction of the redesigned money pressed the CBN to act.
The CBN Governor, Godwin Emefiele, made this announcement in a statement on January 29, 2023. After the release of the newly designed notes in December, the first date of January 31st, 2023, was established.
However, due to a shortage of the newly designed notes now in use, the extension has been developed to allow for the collecting of more older notes.