JUST IN: CBN denies receiving presidential orders to reissue old N200, N500, N1000 Naira notes

The Central Bank of Nigeria (CBN) has denied receiving presidential orders to reissue the old N200, N500 and N1000 naira notes.

The CBN’s denial was in a reaction to a press release purportedly from the CBN circulating on social media.

The press release reads: “Due to the current and unpleasant situation happening in Nigeria, in line with Mr. President after having a close meeting with him on 20th February 2023, Central Bank of Nigeria has been directed to ONLY reissue and recirculate the old N200, N500 and N1000 banknotes and this is expected to circulate as legal tender for 70 days up to May 1, 2023…”

However, the the Director, Corporate Communication of the apex bank, Osita Nwanisobi in terse statement said ‘It is fake news’.

PLEASE BE WARY OF FAKE NEWS! pic.twitter.com/EZc6ygua3u

— Central Bank of Nigeria (@cenbank) February 21, 2023