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As of February 25, 2023, Nigeria faced a severe naira scarcity driven by the CBN's currency redesign, with old ₦200 notes remaining legal tender while ₦500 and ₦1,000 notes ceased to be valid. Despite a Supreme Court order extending the deadline for old notes, the government's policy caused significant disruption to economic activity and election logistics. For more details, visit the Premium Times timeline .
As of February 25, 2023, Nigeria faced a severe naira scarcity driven by the CBN's currency redesign, with old ₦200 notes remaining legal tender while ₦500 and ₦1,000 notes ceased to be valid. Despite a Supreme Court order extending the deadline for old notes, the government's policy caused significant disruption to economic activity and election logistics. For more details, visit the Premium Times timeline .