The Central Bank of Nigeria (CBN) has said it is not approved the use of the old N500 and N1,000 notes.
The CBN in a statement on Wednesday described as fake news reports the President directed it to allow the old N500 and N1,000 to recirculate.
“The attention of the Central Bank of Nigeria has been drawn to a fake press release purported to have emanated from the Bank to the effect that President Muhammadu Buhari has approved the reissuance and release of old N500 and N1000 notes as legal tender in the country” the statement noted.
“For the avoidance of doubt, the Central Bank of Nigeria reiterates that in line with the directives of Mr. President, only N200 old notes are to be reissued and to circulate concurrently with the new notes. Members of the public are therefore advised to ignore this fake news” it said.
CBN said it is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news.
