The Central Bank of Nigeria (CBN), has distanced itself from reports, claiming that it has directed the reissuance and recirculation of the old N1000, N500 and N200 notes till May 1, 2023.
The report emerged following a purported press release shared on the Instagram page of the First Lady, Aisha Buhari on Tuesday.
In the release, it was alleged that the old N500 and N1000 notes should remain legal tender for the next 70 days, till May 1, 2023.
In a swift reaction, the CBN, in a release issued on Tuesday, described the statement shared by Aisha as “fake news.”
The apex bank reinstated commitment to the new monetary policy, adding that, it is only following the directive of President Muhammadu Buhari who had directed the recirculation of only N200 old notes.
The CBN said, “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 banknote, 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 CBN stated.
