Confusion as CBN Denies Directing Banks To Collect Old N500, N1, 000 Notes

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.


In a statement by Osita Nwanisobi, CBN’s Director of Corporate Communications on Friday, 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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  1. This man is only trying to cover up his track or rather save face

  2. Thank you for the information

  3. Very ok with it, if only it will stop vote buying. Nigerians should try and exercise patience. I strongly believe that CBN is on the right track on this. Kudos to the president. Job well done.

  4. That's the handiwork of mischief makers bent on buying votes .... May God Almighty punish them all 🙏🙏🙏🔥🔥🔥

  5. we dey on our own ooo !!!
    - APC made a monetary policy
    - APC started complaining about it APC’s policy
    - APC says APC has introduced this policy to stop APC from winning the election for APC
    - APC went to court to stop APC’s policy
    - APC politician is the CBN governor
    - APC is the ruling party
    - APC is the opposition party
    - APC justices at Supreme Court tried to stop APC
    - APC refused to obey APC’s court order.
    - APC campaign slogan is Rescue mission.
    - APC wants to rescue APC from APC.
    - APC is currently on trial against APC.
    We na look we dey look 👀 😂😂

  6. It's like APC's are the only one shouting about these new naira note, I haven't hear any about from other party

  7. Na real confusion!


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