Banking, Economy & MoneyHeadlines

We Stick To Presidential Directive To Reissue Only 200 Naira Old Banknotes, Says CBN 

The Central Bank of Nigeria, CBN, on Tuesday said that the Bank is following the Presidential directive to recirculate only N200 banknotes alongside the new Naira notes across the country. 

The apex bank made this known in a statement co-signed by the Deputy Governor, Corporate Services, CBN, Edward L. Adamu and Director, Corporate Communications, Osita Nwanisobi and shared across all its verified social media handles online. 

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 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”.

President Muhammadu Buhari had in a national broadcast last week directed the Bank to recirculate the old 200 Naira notes alongside the new Naira notes to cushion the effects of the Naira redesign policy crisis in the country. 

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