The Central Bank of Nigeria (CBN), on Friday, February 17, 2023, denied ordering financial institutions in the country to accept old N500 and N1,000 notes.
In a statement cited by BizWatch Nigeria, Osita Nwanisobi, the director of the apex bank’s corporate communications, who was earlier quoted to have notified banks to accept the old notes, said only N200 notes as directed by President Muhammadu Buhari would be allowed.
“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 re-issue 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,” the statement read.
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