The Central Bank of Nigeria (CBN) has made it clear that the N500 and N1,000 notes are no longer legal tenders anywhere in the country, describing as fake news, a report making the rounds that it had extended the validity of the notes to May 1st.
A statement today, February 21 by the apex Bank’s Director of Corporate Communications, Osita Nwanisobi said that CBN never gave such directive anywhere.
The fake report quoted a statement purportedly issued by Nwanisobi, to have said: “Due to the current and unpleasant situation in Nigeria, in line with Mr. President, after having a closed meeting with him on the 20th of February, 2023, Central Bank of Nigeria has been directed to only reissue and recirculate the old N200, N500, and N1,000.”
The apex bank, simply stamped “FAKE NEWS” in capital letters and in red colour on the fake news to catch public attention on it.
In the official statement, the CBN insisted that it is working in total compliance with President Buhari’s directive on the reissuance of only the old N200 notes into circulation as legal tender from February 10 to April 10, 2023.