The Central Bank of Nigeria (CBN) has denied reports circulating that it has extended the validity of old N500 and N1,000 notes to May 1st, calling it “fake news.”
The apex bank has stated that it did not issue such a directive on Tuesday, February 21, following a meeting with President Muhammadu Buhari.
The CBN dismissed a statement purportedly issued by its Director of Communications, Osita Nwanisobi, which claimed that it had been directed to reissue and recirculate old N200, N500, and N1,000 notes due to the current situation in Nigeria.
The CBN stated that it has only been directed to reissue and recirculate old N200 banknotes, which will circulate as legal tender for 60 days up to April 10, 2023, in line with President Buhari’s broadcast of February 16, 2023. The CBN has warned the public to disregard any unauthorized messages or information on the subject.
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