Central Bank of Nigeria (CBN) has debunked a purported press release shared on the Instagram page of the First Lady, Aisha Buhari.
In the release shared on Aisha’s page on Tuesday, it was alleged that the old N500 and N1000 notes should remain legal tender dor the next 70 days, till May 1, 2023.
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Debunking the news, the CBN shared another release, labelling the one shared by Aisha as “fake news.”
The CBN said;
For the avoidance of doubt, and in line with Mr. President’s broadcast of February 16, 2023, the CBN has been directed to ONLY reissue and recirculate the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023.
Members of the public should therefore disregard any message and/or information not formally released by the Central Bank of Nigeria on this subject. Media practitioners are advised to PLEASE verify any information from the correct sources before publication.
Buhari during his national broadcast last Thursday ordered CBN to allow only the old 200 naira notes and redesigned 200, 500 and 1000 naira notes to coexist.
The president said only the 200 old naira notes will continue to be legal tender till Monday, April 10.
He insisted that the Naira redesign was aimed at curbing inflation, and corruption, and improving transparency in cash flow to all sectors of the Nigerian economy.
“I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from Feb. 10, 2023 to April 10 2023,” Buhari said.
