The President made this known on Thursday morning during an address to Nigerians.
He also apologised to Nigerians over the difficulties experienced in accessing the scarce new naira notes.
He said, “During the extended phase of the deadline for currency swap, I listened to invaluable pieces of advice from well meaning citizens and institutions across the nation.
“I similarly consulted widely with representatives of the State Governors as well as the Council of State. Above all, as an administration that respects the rule of law, I have also noted that the subject matter is before the courts of our land and some pronouncements have been made.
“To further ease the supply pressures particularly to 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 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 ceases to be legal tender.”
In other news, Benue State Governor, Samuel Ortom, on Wednesday asked the Federal Government to urgently review the cashless policy to assuage the untold hardship being experienced by Nigerians.
He also advised the President, Major General Muhammadu Buhari (retd.), to revisit the naira redesign policy before it tainted his integrity and mar the rest of his political career.
Ortom gave the advice at a stakeholders’ meeting on the 2023 general election organised by the Independent National Electoral Commission in Benue State.
Ortom said, “This is the worst policy that the President has brought at a time that he is about to leave office. Nigerians are suffering and some are dying.
“I have said it before and let me repeat it. The people who are advising the President do not mean well for him. He will remain a pain in the neck of Nigerians if he doesn’t reverse this policy.
“This is not right. Our people are suffering, now you have money in the bank, you cannot spend it; go to the banks and see the queues.
“This policy will eliminate his name from being an honourable man of integrity. This policy will ruin him, because the man out there that I represent, the woman, the children are crying, they are feeling the pains.”
Ortom called on well-meaning Nigerians to rise up, saying “anarchy is looming in this country.”
He said, “A time will come that nobody will respect the government, nobody will respect the police, everybody will be on his own and that will be too dangerous and it will be too late and there will be monumental losses that will come.”
Speaking earlier, the Resident Electoral Commissioner in Benue State, Prof. Sam Egwu, commended Ortom for rising above partisanship to attend the event.
He said the Independent National Electoral Commission was adequately prepared for the elections in terms of logistics, stressing that the Bimodal Voter Accreditation System was not a voting machine but for the purpose of accreditation and voter authentication only.
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