The Central Bank of Nigeria (CBN) has denied asking banks to start collecting old N500 and N1,000 notes from customers.
In a statement on Thursday, Osita Nwanisobi, Director of, the Corporate Communications Department, said the CBN has only been directed to reissue and recycle old N200 notes.
“The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorized messages quoting the CBN as having authorized the Deposit Money Banks to collect the old N500 and N1,000 banknotes.
“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 re-circulate the old N200 banknotes, which are 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,” the bank said.
