Following security reports on the rejection of some currency notes in Kaduna, the Central Bank of Nigeria (CBN) has said that  the terminal date for the circulation of the existing bank notes has been extended indefinitely.

CBN, in a statement signed by the Kaduna Branch Controler, Mohammad Gusau, said that clarification became necessary to allow for the seamless transition from the N5, N10 and N50  paper notes to the polymer notes and the gradual withdrawal of the existing paper notes.

The apex bank, therefore, advised the general public to continue to accept the paper notes in their daily transactions and warned that it was unlawful to refuse to accept any legal tendered currency issued by the bank.

According to the bank, “we wish to restate that the N50 polymer bank notes, whether with six- digit or seven-digit serial numbers, were issued by the Central bank of Nigeria and, therefore, genuine bank notes."

”The numbers on the notes are consistent with the numbering system adopted by the bank. Both sets of bank notes are fortified with adequate security features which make counterfeiting difficult,” they said.