CBN Dismisses Re-Issuance of Old N500, N1000 Notes as Fake News
The Central Bank of Nigeria, CBN has dismissed some media reports holding the President’s approval of the release of the old N500 and N1000 notes as legal tender in the country.
In a statement released on Tuesday, the CBN described and dismissed the authenticity of a media report which stated that the President had approved the re-issuance and release of the old N500, and N1,000 notes as fake.
The CBN, while insisting that the directive of President Buhari on the N200 notes still stands; pledges to work with security agencies to unravel the perpetrators of the misleading reports on the other old notes.
The statement reads;
“The attention of the Central Bank of Nigeria has been drawn to a FAKE PRESS RELEASE Purported to have emanated from the Bank to the effect that President Muhammadu Buhari has approved the issuance and release of old N500 and N1,000 notes as legal tender in the country,”.
“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 law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news. Please be guided accordingly.”
Earlier, Buhari in his nationwide broadcast on February 16 directed the apex bank to only re-issue and re-circulate the old N200 banknotes. The old N200 is expected to circulate as legal tender for 60 days up to April 10.
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