CBN Denies Asking Banks To Receive Old N500, N1000 Notes

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The Central Bank of Nigeria, CBN has debunked reports that it has authorised commercial banks to accept old ₦500, and ₦1,000 notes.

In a statement by Osita Nwanisobi, CBN’s Director of Corporate Communications on Friday, the apex bank said for the avoidance of doubt, the CBN is only reissuing and recirculating the old N200 banknotes.


It said these notes are expected to circulate as legal tender for 60 days up to April 10, 2023, in line with President Muhammadu Buhari’s national broadcast on Thursday.

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The CBN advised members of the public to disregard any message and/or information not formally released by the bank on this subject.

It also advised media practitioners to endeavour to verify any information from the correct sources before publication.


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