Presidential Directive to Reissue only 200 Naira Old Banknotes alongside redesigned notes, is still effective- CBN

Oru Leonard 

The Central Bank of Nigeria (CBN), has said the Presidential Directive to Reissue only 200 Naira Old Banknotes in still holding.

In a CBN statement signed by the Director, Corporate Communications, Osita Nwanisobi on Tuesday, February 21, 2023, the apex bank debunked 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”, Mr. Nwaniosobi said.

He further said CBN is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news.

He also urged the public the be guided accordingly.