The First Lady of the Federal Republic of Nigeria, Aisha Buhari, has on Tuesday, posted a fake information purportedly obtained from President Muhammadu Buhari issuing fresh directive to the Central Bank of Nigeria, CBN concerning the old N500 and N1000 notes.
The First Lady pointed out that she had a meeting with Mr. President and the monetary authority in the country had been authorized to allow fresh circulation of the old currency as against the recent broadcast by the President.
The misleading circular by the wife of the President directed the CBN to make the old N500 and N1000, including the N200 notes a legal tender till May this year.
According to the circular: “Due to the current and unpleasant situation happening in Nigeria, In line with Mr. President. After having a closed meeting with him on the 20th of February, 2023, Central Bank Of Nigeria (CBN) has been directed to ONLY reissue and recirculate the old N200, N500 and N1000 banknotes and this is expected to circulate as legal tender for 70 days up to May 1, 2023. Members of the public should therefore continue to spend the old notes.
“Media practitioners are advised to PLEASE spread out this helpful information to the public.”
However, responding to the statement by Osita Nwanisobi, the Director, Corporate Communications Department Central Bank, the apex bank debunked the information by the First Lady, urging members of the public not to regard any information not officially made available to them by the CBN on the cash redesign policy.
The response by CBN reads “The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorized messages quoting the CBN as having authorized the Deposit Money Banks to collect the old N500 and N1,000 Banknotes. 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 for 60 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.
“Media practitioners are advised to PLEASE verify any information from the correct sources before publication.”
