Home Banking & Finance BREAKING: We didn’t ask banks to collect N500, N1000 notes — CBN

BREAKING: We didn’t ask banks to collect N500, N1000 notes — CBN

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The Central Bank of Nigeria, CBN, has refuted claim that it directed banks to collect the old N500 and N1,000, as earlier reported.

In a response to the news going round in the media, the Director of Corporate Communication, Mr. Osita Nwanisobi, said the apex bank did not direct commercial banks to collect the old N500 and N1,000.

He said: “The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorised messages, quoting the CBN as having authorised 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, the CBN has been directed to ONLY re-issue and recirculate the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10.

“Members of the public should, therefore, disregard any message and/or information not formally released by the Central Bank of Nigeria on this subject.

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

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