BY NKECHI NAECHE-ESEZOBOR–The Central Bank of Nigeria (CBN) has reacted to messages quoting it as authorizing the Deposit Money Banks to collect the old N500 and N1,000 notes, saying it was fake.
In a statement by Osita Nwanisobi, Director, Corporate Communications, 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 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.”
See below the statement from CBN
