The Central Bank of Nigeria has insisted that President Muhammadu Buhari’s directive on N200 notes still stands.
Remember that Buhari, in his nationwide broadcast on February 16, directed the main bank to only reissue and recirculate old N200 notes.
The old N200 is expected to circulate as legal tender for 60 days until April 10.
But, in a statement on Tuesday, the CBN dismissed some media reports that the president approved the reissue and release of the old N500 and N1000 notes as legal tender in the country.
The main bank described the reports as fake news and vowed to work with law enforcement agencies to unravel the authors of the misleading reports.
The statement reads in part: “The attention of the Central Bank of Nigeria has been brought to a FALSE PRESS RELEASE that allegedly came out of the Bank to the effect that President Muhammadu Buhari approved the reissue and release of the old N500 and N1000 notes as legal. bidding in the country,” the statement read.
“For the avoidance of doubt, the Central Bank of Nigeria reiterates that as per Mr. President’s directives, only old N200 banknotes will be reissued and circulate at the same time as new banknotes. Therefore, members of the public are advised to ignore this fake news.
“The Bank is working with law enforcement agencies to investigate, arrest and prosecute the purveyors of these fake news. Please be guided accordingly.”