CBN Sticks To Presidential Directive To Re-issue Only N200 Old Banknotes

The Central Bank of Nigeria (CBN) has dissociated itself from the press release that purportedly originated from the apex bank, claiming that it has extended validity of old N500 and N1000 notes to May 1, 2023.

In a statement that was issued yesterday, the CBN described the statement as a “FAKE PRESS RELEASE” purported to have emanated from the Bank to the effect that President Muhammadu Buhari has approved the reissuance and release of old N500 and N1000 notes as legal tender in the country.

The statement that was shared by Aisha Buhari, wife of President Muhammadu Buhari on social media was attributed the content to corporate communications director of the central bank, Osita Nwanisobi.

The statement was later deleted with the President’s wife claiming the fake statement was the handiwork of criminals who hacked her account and posted it there.

The CBN reiterated that in line with the directives of Mr President, only N200 old notes are to be reissued and to circulate concurrently with the new notes. “Members of the public are therefore advised to ignore this fake news.”

Mr Nwasinobi said the bank is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of the fake news. “Please be guided accordingly.”