The Central Bank of Nigeria (CBN) has described news trending that it directed commercial banks in the country to start accepting old N500 and N1,000 from customers as fake.
In a statement today, February 17 by the Director of Corporate Communications, Osita Nwanisobi, the apex Bank said that no such directive was issued.
“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.”
The apex Bank asked members of the public to disregard any message and/or information not formally released by the Bank on this subject. The statement advised media practitioners are to verify any information from the correct sources before publication.
