
The Central Bank of Nigeria (CBN) has debunked the purported news making the rounds on social media that it has directed all commercial banks to recirculate the old 500 and 1000 naira notes back to the system.
Aisha Buhari had on Tuesday posted on her verified Instagram page that the old N500 and N1000 naira notes have been allowed to remain legal tender for the next 70 days, till May 1, 2023, which is contrary to President Muhammadu Buhari’s directive that only the old N200 banknote is allowed till April 10, 2023.
Debunking the news, the CBN shared another release, labelling the one shared by Aisha as “fake news.”
The CBN press statement reads, “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. Media practitioners are advised to PLEASE verify any information from the correct sources before publication.”