BREAKING: Buhari extended the use of the old 200 naira notes till April 10.

60 additional days have been added to the expiration date of old 200 naira notes by President Muhammadu Buhari’s directive.

On Thursday, the President addressed Nigerians in a nationwide broadcast about the recent implementation of the new naira policy, which has caused the notes to be in short supply.

“I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023, to April 10, 2023, when the old N200 notes cease to be legal tender,” he said, referring to the supply pressures that are particularly felt by our citizens.

“I urge every citizen to work harder to make their deposits by utilizing the platforms and opportunities being given by the CBN in light of the state of our economy and the legacy we must leave for the upcoming administration and future generations of Nigerians.

“Let me reassure Nigerians that our administration will keep an eye on the implementation to make sure they aren’t burdened needlessly. In this regard, the CBN would see to it that new notes are made more widely available and reachable to our people via the banks.

“I want to ask for your patience once more as we work to get over this challenging temporary phase as quickly as possible.

“Dear folks, the country will elect a new President and National Assembly members on February 25, 2023. I am aware that this new monetary strategy has also made a significant contribution to reducing the power of money in politics.

This is a significant legacy move by this administration towards building a solid platform for free and fair elections, marking a positive break with the past.