HomeBreaking News#Breaking! CBN Denies Ordering Banks To Collect N500 ,N1000 Old Currency.

#Breaking! CBN Denies Ordering Banks To Collect N500 ,N1000 Old Currency.

The Central Bank of Nigeria (CBN) has denied reports making the rounds that it has authorized deposit money banks to collect the old N500 and N1,000 banknotes.

This was contained in a statement issued by Osita Nwanisobi, CBN’s Director of Corporate Communications on Friday, February 17, 2023.

The apex bank said for the avoidance of doubt the CBN is only reissuing and recirculating the old N200 banknotes and which is expected to circulate as legal tender for 60 days up to April 10, 2023, in line with President Muhammadu Buhari’s national broadcast on Thursday.

The CBN advised members of the public to disregard any message and/or information not formally released by the bank on this subject.

It also advised media practitioners to endeavour to verify any information from the correct sources before publication.


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