Finance

We’re Directed To Re-issue Only 200 Naira Old Banknotes -CBN Insists

…Goes After Purveyors Of Fake News

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The Central Bank of Nigeria (CBN) has re-emphasied its stand by the Presidential Directive to re-issue Only 200 Naira Old Banknotes.

CBN’s decision was disclosed in a statement jointly signed by the Deputy Governor, Corporate Services, CBN, Edward Adamu and Director, Corporate Communications, CBN, Osita Nwanisobi on Tuesday, February 22, 2023.

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The apex bank’s stand was intended to dismiss the fake Press Release purported to have emanated from the Bank to the effect that President Muhammadu Buhari has approved the reissuance and release of old N500 and N1000 notes as legal tender in the country.

It therefore, urged members of the public to ignore the fake news, adding that it was working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of the fake news.

The statement read in part, “the attention of the Central Bank of Nigeria has been drawn to a FAKE PRESS RELEASE purported to have emanated from the Bank to the effect that President Muhammadu Buhari hasĀ approved the reissuance and release of old N500 and N1000 notes as legal tender in the country.

“For the avoidance of doubt, the Central Bank of Nigeria reiterates that in line with the directives of Mr. President, only N200 old notes are to be reissued and to circulate concurrently with the new notes.

“Members of the public are therefore advised to ignore this fake news.

“The Bank is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news”, the statement said.

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