The Central Bank of Nigeria (CBN) has denied media reports that it has authorized deposit money banks to collect the old N500 and N1,000 banknotes.
Channels Television quoted a statement by CBN’s Director of Corporate Communications Osita Nwanisobi on Friday, to have said the apex bank is only reissuing and recirculating the old N200 banknotes which is expected to circulate as legal tender up to April 10, 2023, in line with President Muhammadu Buhari’s directive.
The CBN urged the public to disregard any message and/or information not formally released by it on this subject.
The apex regulator also advised media practitioners to endeavour to verify any information from the correct sources before publication.
President Buhari had in a nationwide broadcast on Thursday, directed the CBN to release old N200 notes into circulation to co-exist with new N200, N500, and N1,000 banknotes for 60 days.
The President, however, said old N500 and N1,000 banknotes are no longer legal tender in Nigeria.
He also apologised to Nigerians over the difficulty experienced in the implementation of the naira redesign policy.
