The Central Bank of Nigeria, CBN, has described as fake, the news that Deposit Money Banks have been authorised to collect old N500 and N1000 notes.
The denial is contained in a statement issued on Friday by the CBN’s Director, Corporate Communications, Mr. Osita Nwanisobi.
The bank said in line with President Muhammadu Buhari’s broadcast of Thursday, it had only been directed to reissue and recirculate the old N200 bank notes until April 10, 2023.
The apex bank therefore called on members of the public to disregard any message or information not formally released by it.
The statement reads in full:
“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.
“Media practitioners are advised to PLEASE verify any information from the correct sources before publication.”
