The Central Bank of Nigeria (CBN) has described as fake news, the report by some media organisations claiming that it has directed commercial banks to begin to accept old N500 and N1000 notes.
The fake report that was published by a national daily, had quoted a “reliable source” in the central bank as saying that CBN had directed the deposit money banks to start collecting the old currency notes due to the crowds in its branch offices.
The report also claimed that CBN caped the amount to be deposited with the commercial banks at N500,000.
But in a statement that was issued by its director in charge of corporate communications, Osita Nwanisobi today, CBN said the report was fake and unauthorized.
The CBN spokesman said the bank strictly stands by the earlier directive given by President Muhammadu Buhari that only allows the old N200 note to circulate with the new one for a period of 60 days.
“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 re-issue and recirculate the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023,” Nwanisobi said.
He urged members of the public to therefore disregard any message and/or information not formally released by the Central Bank of Nigeria on this subject.
“Media practitioners are advised to PLEASE verify any information from the correct sources before publication,” Nwanisobi added.
