New Naira Notes: Alleged Fake CBN Report By Aisha Buhari

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The First Lady of Nigeria, Aisha Buhari, on Tuesday came under criticism from the public over an alleged statement that the Central Bank of Nigeria is extending the validity of old N200, N500 and N1,000 notes to May 1, 2023.

The alleged statement was issued by the Director of Communications, Osita Nwanisobi, stating that the CBN gave the directive on Tuesday, February 21 after a meeting with President Muhammadu Buhari.

“Due to the current and unpleasant situation in Nigeria, in line with Mr President, after having a closed meeting with him on the 20th of February, 2023, Central Bank of Nigeria has been directed to only reissue and recirculate the old N200, N500 and N1,000 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,” the statement read.

The CBN reacting in a statement signed by Nwanisobi dismissed the report.

“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 recirculates 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,” the statement reads.