There is this disagreement between the Federal Government and some States over the use of old Naira notes.
Basically, most states say they are hinging their push for the use of old Naira on the Supreme Court’s ruling on the matter.
But the Central Bank of Nigeria (CBN) is insisting it will uphold its decision on the old Naira notes.
The apex bank has said that the old ₦500 and ₦1,000 notes are no longer legal tender since February 10.
Now, it is going further to make good its decision, promising to collaborate with law enforcement agencies in going after those peddling the fake news that the old ₦500 and ₦1,000 notes will be back in circulation.
Only ₦200 Will Be Reissued
The apex bank on Tuesday debunked the fake news making the rounds that the old ₦500 and ₦1000 notes will be back in circulation.
In a statement, a spokesman for the CBN, Edward Adamu, and the Director Corporate Communications, Osita Nwanisobi, said that “only ₦200 old notes are to be reissued and to circulate concurrently with the new notes”.
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The statement reads: “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 ₦500 and ₦1,000 Naira 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 ₦200 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.
Meanwhile, it was gathered that some bankers in Abuja and the FCT, have been telling their customers that the ₦500 and ₦1,000 notes will be back in circulation.
