By Ayo Kehinde
The Central Bank of Nigeria (CBN) has denied reports making the rounds in the media that it has directed deposit money banks to collect old N500 and N1,000 notes from customers.
Mr. Osita Nwanisobi, Director, Corporate Communications of the apex bank, disclosed this in a statement on Friday, stating that no such directive was given to the banks.
According to him the Central Bank of Nigeria has not authorized the deposit Money Banks to collect N500 and N1,000 bank notes.
“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 for60 days up to April 10, 2023.
“Members of the public should therefore disregard any message and/or information not formally released by the Central Bank of Nigeria on this subject.
