CBN Reacts As Buhari Allegedly Approves Validity Of Old N500, N1000 Notes Till Next Two Months

CBN Reacts As Buhari Allegedly Approves Validity Of Old N500, N1000 Notes Till Next Two Months

The Central Bank of Nigeria (CBN) has denied reports that President Muhammadu Buhari approved the validity of old N500 and N1000 notes until May.

The fake press release was seen on the Instagram page of Aisha Buhari, the wife of the president.

This has caused confusion among Nigerians as to which notes are valid and for how long.

President Buhari had earlier ordered the recirculation of the N200 notes and stated that it would remain a legal tender until April 10.

However, the fake press release claimed that the old N500 and N1000 notes would also be recirculated and accepted as legal tender until May 1, 2023.

The CBN has issued a statement to clarify that the report is false and misleading.

The bank emphasized that only the N200 notes would be recirculated and remain a legal tender until April 10, 2023.

The CBN urged Nigerians to disregard any information contrary to this official statement and continue to use only the N200 notes.

PLEASE BE WARY OF FAKE NEWS! pic.twitter.com/EZc6ygua3u

— Central Bank of Nigeria (@cenbank) February 21, 2023

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