The Central Bank of Nigeria (CBN) says it is strictly sticking to only the reissuance of 200 Naira old banknotes as directed by president Mohammadu buhari
The apex bank made this known in a statement jointly signed by the Deputy Governor, Corporate Services, Edward Adamu and the Director, Corporate Communications, Osita Nwanisobi, made available to Newsshelve on Tuesday.
The CBN noted that a statement, allegedly issued by the bank, claiming that President Muhammadu Buhari has permitted the reissuance and release of old N500 and N1000 notes as legal tender in the country, is fake.
The apex bank asked members of the public to disregard the fake statement while noting that it was working with law enforcement organisations to arrest and prosecute those responsible for the fake publication.
The full text of the statement is reproduced below:
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 reissuance and release of old N500 and N1000 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 the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news. Please be guided accordingly.
Edward L. Adamu
Deputy Governor, Corporate Services
Osita Nwanisobi
Director, Corporate Communications
February 21, 2023
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