The Central Bank of Nigeria, CBN, insisted yesterday that only the old N200 notes were re-issued as directed by President Muhammadu Buhari.
The clarification came against the backdrop of reports that President Muhamnmadu Buhari had issued an order directing the CBN to also re-issue the N500 and N1,000 notes.
The apex bank also refuted reports that it directed Deposit Money Banks, DMBs, to receive the old N500 and N1,000 notes from their customers.
The clarifications came as Kaduna State governor, Nasir el-Rufai, said President Muhammadu Buhari made a mistake concerning the naira redesign policy which phased out the old N500 and N1,000 notes.
In a statement jointly signed by the Deputy Governor, Mr Edward Adamu, and Mr Osita Nwanisobi, the apex bank said it is sticking to the directive of the President to reissue only the old N200 notes.
It read: “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 has approved the re-issuance and release of old N500 and N1,000 notes as legal tender in the country.
For the avoidance of doubt, the CBN reiterates that in line with the directive of Mr President, only N200 old notes are to be re-issued and to re-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.”
Similarly, the Central Bank of Nigeria, CBN, yesterday refuted reports that it directed Deposit Money Banks, DMBs, to receive old N500 and N1,000 notes from their customers.
According to the Director, of Corporate Communications, Mr Osita Nwanisobi, in a statement, in Abuja, yesterday, media reports that the apex bank has given such a directive are fake.
He clarified that only old N200 notes had been directed by President Muhammadu Buhari to be re-issued and that the CBN would stick to that directive.
The statement read: “The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorised messages quoting the CBN as having authorised 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 recirculates the old N200 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 CBN on this subject.”
The CBN was reacting to a message purportedly issued by Mr. Nwanisobi, indicating that the CBN had directed DMBs to continue to receive old N500 and N1,000 notes until May 1.
It claimed that the directive followed a purported meeting between CBN officials and President Buhari.
That message has since been widely circulated on social media.
