The Central Bank of Nigeria, CBN, has dismissed reports that it has authorised commercial banks to start accepting the old N500 and N1,000 notes.
The apex bank stated that it has not directed any banks to collect the old notes.
It said that the only directive to the regulator from President Muhammadu Buhari was to reissue the old N200 note.
Director, Corporate Communications of CBN, Osita Nwanisobi, in statement said, “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.”
President Muhammadu Buhari had on Thursday, said the old N200 should be used with the new notes till April 10, 2023, while the old N500 and N1,000 notes ceased to be legal tender in the country.
