CBN Sticks To Presidential Directive To Reissue Only 200 Naira Old Banknotes

The Central Bank of Nigeria (CBN), said it’s attention has been drawn to a fake press release, which state that the apex bank has directed the reissue of N200, N500 and N1000 denomination.

“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 CBN in a tears statement on Tuesday, said “For the avoidance of doubt, the Central Bank of Nigeria reiterates 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.

“The Bank is working with the law enforcement agencies to investigate, apprehend and
prosecute the purveyors of this fake news.