President Muhamamdu Buhari has approved the continued use of the old N200 notes.
The old N200 notes will co-exist with the new N200 notes, the Nigerian leader said.
He, however, did not allow the continued use of the old N500 and N1,000 notes, only saying the CBN would continue to accept them.
Mr Buhari stated this in a national broadcast Thursday morning.
It is not clear if the new directive will reduce the naira scarcity being experienced by Nigerians.
However, the old N200 notes will remain valid for the next 60 days, Mr Buhari said