JUST IN: Confusion As CBN Denies Viral Report Asking Banks To Accept Old 500,1000 Naira Notes


Feb 17, 2023

The central bank of Nigeria has denied a report purportedly asking commercial banks to start accepting the old #500 and #1,000 notes from Nigerians.

The CBN debunked the report in a statement signed by the Director, Corporate Communications, Osita Nwanisobi.

The statement reads, “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 recirculate the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023.
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Members of the public should therefore disregard any message and/or information not formally released by the Central Bank of Nigeria on this

Media practitioners are advised to PLEASE verify any information from the correct sources before publication.

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