CBN debunks reports on collection of old N500, N1000 notes

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The Central Bank of Nigeria (CBN) has dissociated itself from some fake and unauthorised messages quoting the CBN as having authorised deposit money banks to collect the old N500 and N1000 bank notes.

In a statement on Friday by Osita Nwanisobi, Director, Corporate Communications, the CBN urged members of the public to disregard any message or information not formally released by the bank on this subject matter.

The statement said “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”.

Consequently, the CBN urged media practitioners to verify any information from the correct sources before publication.

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