The Central Bank of Nigeria (CBN) denied getting orders from the president to reissue the old N500 and N1000 naira notes.
The CBN’s rejection came in response to a news statement circulating on social media that was also posted by Aisha Buhari, the wife of Nigerian President Muhammadu Buhari.
The press statement states, “Due to the current and terrible circumstances in Nigeria, the Central Bank of Nigeria has been directed to ONLY reissue and circulation the old N200, N500, and N1000 banknotes, which are scheduled to circulate as legal money until May 1, 2023.”
In a statement released on Tuesday, the Director of Corporate Communication for the central bank, Osita Nwanisobi, denounced the report as false.
“The attention of the Central Bank of Nigeria has been directed to some fraudulent and unapproved messages claiming that the CBN has authorized Deposit Money Banks to collect old N500 and N1,000 banknotes,” the statement read.
“For the avoidance of confusion, and in accordance with Mr. President’s announcement of February 16, 2023, the CBN has been instructed to ONLY reprint and circulation the old N200 banknotes, which are expected to circulate as legal money until April 10, 2023. Regarding this topic, the public should dismiss any messages and/or material not officially provided by the Central Bank of Nigeria.”