The Central Bank of Nigeria (CBN) has denied reports that it has given deposit money banks permission to collect old N500 and N1,000 banknotes.
In a statement by CBN’s Director of Corporate Communications Osita Nwanisobi on Friday, the apex bank said the apex 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 advised the public to disregard any message and/or information on this subject that had not been formally released by the bank.
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.
He, however, said old N500 and N1,000 banknotes are no longer legal tender in Nigeria.
The President also apologised to Nigerians over the difficulty experienced in the implementation of the naira redesign policy.
PRESS RELEASE pic.twitter.com/AXkUlDGjx7
— Central Bank of Nigeria (@cenbank) February 17, 2023