The Central Bank of Nigeria (CBN) said on Tuesday that President Muhammadu Buhari’s directive on N200 notes is still in place.
Buhari directed the apex bank to only reissue and re-circulate the old N200 banknotes in a nationwide broadcast on February 16. The old N200 is expected to be legal tender for the next 60 days, until April 10.
The CBN denied in a statement that the President had approved the reissue and release of the old N500 and N1000 notes as legal tender in the country.
It called the reports “fake news,” and promised to work with law enforcement to identify those responsible.
“ 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,” the statement read.
“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.”
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