The Central Bank of Nigeria (CBN) has denied plans to dump the redesigned N200, N500 and N1,000 notes as legal tender, urging the public to totally disregard news, especially around the social media, that stated otherwise.
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The Acting Director, Corporate Communications of the apex bank, Dr Isa AbdulMumim, made the rebuttal in a statement on Sunday.
He said the fake news was completely unfounded and a ploy by some interests to cause panic among members of the public.
“We wish to reiterate that the new and old currency notes have been circulating side by side just as the Bank has been taking delivery of a good quantity of the redesigned bank notes from the Nigerian Security Printing and Minting Company (NSPMC) Limited.
“Furthermore, we are committed to supplying the approved indent for the smooth running of the economy. We, therefore, urge members of the public to disregard any report suggesting
a phase-out of the redesigned currency.
“For the avoidance of doubt, the redesigned and old notes will continue to be accepted as legal tender. They will circulate side-by-side for transactions ahead of the December 31, 2023
deadline, when the old N1000, N500 and N200 banknotes will eventually be phased out”, Dr AbdulMumin explained.
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