The Central Bank of Nigeria says it is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of a fake news trending on social media purporting that the bank had reverted itself by approving the reissuance of the old N500 and N1,000 notes.
The apex bank in a statement issued by Deputy Governor, Corporate Services, Edward Adamu and Director, Corporate Communication, Osita Nwanisobi, on Tuesday said the CBN sticks to the presidential directive to reissue only the N200 banknotes.
The statement, titled, “CBN sticks to Presidential Directive to Reissue only 200 Naira Old Banknotes,” described the news making the rounds that it got approval from President Muhammadu Buhari to reissue the N500 and N1,000 banknotes as fake.
“The attention of the Central Bank of Nigeria has been drawn to a FAKE PRESS RELEASE purported to have emanated from the Bank to the effect that President Muhammadu Buhari has approved the reissuance and release of old N500 and N1,000 notes as legal tender in the country.
“For the avoidance of doubt, 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. Members of the public are therefore advised to ignore this fake news.
“The Bank is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news.”
Many Nigerians have been visiting Deposit Money Banks in a last-minute rush to deposit their old Naira notes after the expiration of the deadline issued by the CBN.
The absence of cash has led to rampages in some states and burning down of commercial banks.
