CBN has denied ordering Nigerian Banks to collect old N500 and N1000 notes.
NewsOnlinereports that the Central Bank of Nigeria, CBN has debunked reports that it has authorised commercial banks to accept old ₦500, and ₦1,000 notes.
In a statement by Osita Nwanisobi, CBN’s Director of Corporate Communications on Friday, the apex bank said for the avoidance of doubt, the CBN is only reissuing and recirculating the old N200 banknotes.
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It said these notes are expected to circulate as legal tender for 60 days up to April 10, 2023, in line with President Muhammadu Buhari’s national broadcast on Thursday.
The CBN advised members of the public to disregard any message and/or information not formally released by the bank on this subject.
It also advised media practitioners to endeavour to verify any information from the correct sources before publication.
“The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorized messages quoting the CBN as having authorized the Deposit Money Banks to collect the old N500 and N1,000 Banknotes”.
“For the avoidance of doubt, and in line with Mr. President’s broadcast of February 16, 2023, the CBN has been directed to ONLY reissue and recirculate the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023”.
“Members of the public should therefore disregard any message and/or information not formally released by the Central Bank of Nigeria on this subject.”
Signed: Osita Nwanisobi Director, Corporate Communications
February 17, 20230
CBN Denies Ordering Nigerian Banks To Collect Old N500, N1000 Notes
