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Only N200 old notes to be reissued, circulated – CBN



The Central Bank of Nigeria (CBN) says only N200 old notes are to be reissued and circulated concurrently with the new notes in line with the directives of President Muhammadu Buhari.

The bank restated this in a statement jointly signed by Mr Edward Adamu, Deputy Governor, Corporate Services, and Mr Osita Nwanisobi, Director, Corporate Communications, CBN, on Tuesday in Lagos.

The CBN said that Buhari had not given any approval for the old denominated notes to be reissued and re-circulated as legal tender for 70 days up to May 1, as stated in a fake press release.

“The attention of the Central Bank of Nigeria has been drawn to a FAKE PRESS RELEASE purported to have emanated from the Bank.

“The fake press release purported that President Muhammadu Buhari had 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,” it said.

It added that the bank was working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news.

The statement urged Nigerians to be guided and to ignore the fake press release credited to the President.

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Lydia Ngwakwe

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.



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