News
BREAKING: We Have Not Directed Banks To Collect Old 500, 1000 Notes- CBN
The Central Bank of Nigeria, CBN has on Friday evening debunked trending reports that it authorized commercial banks to collect old N500 and N1000 notes..
In a statement by its spokesperson, Osita Nwanisobi, the apex bank described the reports as “fake” and “unauthorized”, adding that the only directive issued was that of the reissuing and recirculation of the old N200 notes.
“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. ”