Nigeria’s apex bank, the Central Bank of Nigeria (CBN) has debunked the claims that it has directed commercial banks to start collecting old N500 and N1,000 notes from customers.
In a statement released on Friday 17th February 2023, on the official Twitter handle of Nigeria’s apex bank the Director, Corporate Communications, Department, Osita Nwanisobi, stated that the apex bank did not authorized commercial banks to collect N500 and N1000 old notes from Nigerians.
The statement quoting Osita Nwanisobi said:
“For the avoidance of doubt, and in line with Mr President’s broadcast on 16th February 2023, the CBN has been directed to only reissue and recirculates the old N200 banknotes and this is expected to circulate as legal tender for 60days up to April 10th 2023.
Members of the public should therefore disregard any message or information not formally released by the CBN on this subject,” the statement said.
Media practitioners were also advised to verify any information from the correct sources before publication.
The statement from CBN comes a few hours after news spread that Nigeria’s apex bank has directed commercial banks to start collecting old N500 and N1000 banknotes after a nationwide outrage over the rejection of the notes which President Muhammadu Buhari declared were no longer legal tender.
In his national broadcast, Buhari had asked Nigerians to take old N500 and N1000 notes to Nigeria’s apex bank and other designated places, but commercial banks refused to accept them, forcing Nigerians to troop to the apex bank offices.
In Lagos, the bank officials struggled to control the crowd and directed them to commercial banks but the people refused.
On Thursday, CBN governor, Godwin Emefiele, appealed to Nigerians to allow the naira redesign policy work.
He said after meeting President Muhammadu Buhari at the Presidential villa in Abuja.
He said the pains currently associated with the policy were temporary, making a case that the policy would enhance the government’s fight against corruption and boost the economy.