Muhammadu Buhari, the president of Nigeria, announced in a national speech on Thursday, February 16, 2023, that the old N200 notes will continue to be legal tender for an extra 60 days.
This occurs at a time when both old and new Naira notes are in short supply, causing economic turmoil.
President Muhammadu Buhari announced in his speech to the nation that the N200 notes will be issued and allowed to stay legal currency for 60 days in order to reduce scarcity.
He said, "To further ease the supply pressures, particularly on our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be permitted 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."
Nigeria's president since 2015 is Muhammadu Buhari (listen), a politician from Nigeria who was born on December 17, 1942.
A retired major general in the Nigerian Army, Buhari led the nation's military government from December 31, 1983, to August 27, 1985, after staging a military coup. The name Buharism is given to the dictatorial tactics of his military dictatorship. Nigeria's Buhari campaigned for president in 2003, 2007 and 2011. He was announced as the All Progressives Congress party's presidential candidate for the 2015 general election in December 2014. Buhari defeated incumbent President Goodluck Ebele Jonathan in the election. An incumbent president lost a general election for the first time in Nigerian history. He took office on May 29, 2015. Buhari won reelection in February 2019 by more than 3 million votes, defeating his closest competitor, former vice president Atiku Abubakar.
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