Public Announcement
May 30th, 2007
With effect from 1st June 2007 the old coins and lower denomination notes will not be accepted in payment for transactions. They will however, still continue to be exchanged for the same or higher denomination notes at the counters of any of the operation in Nigeria. The public is advised not to panic, as CBN has adequate supply of issuable notes and coins of both the higher and lower denominations to ensure a smooth exchange of the old lower denomination currency for the new currency.