CBN Clarifies Directive to Banks on Old N500 and N1000 Banknotes
The Central Bank of Nigeria ,CBN, has the rumoured directive on the collection of the N500 and N100 notes .
“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. “
CBN therefore urged members of the public to disregard any message and/or information not formally released by the Central Bank of Nigeria on this subject ; it also enjoined media practitioners to please verify any information from the correct sources before publication.
