Business
By Kennedy Nnamani
THE Central Bank of Nigeria, CBN, has debunked the rumor circulating in the media that President Muhammadu Buhari has approved the reissuance of the old N500 and N1000 notes as legal tenders.
Describing the rumor as a “fake press release”, the statement signed on Tuesday by Edward L. Adamu, Deputy Governor, Corporate Service and Osita Nwanisobi director, Corporate Communications of the CBN noted that it is sticking to presidential directive to reissue only N200 old banknotes.
“For the avoidance of doubt,” the statement read, “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.”
The CBN therefore urged the members of the public “to ignore this fake news”, noting that it is “working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news”.
KN
Tags: CBN Edward L. Adamu Kennedy Nnamani Osita Nwanisobi President Muhammadu Buhari
