CBN vows to fish out purveyors of ‘fake’ statement on old N500, N1,000 notes

The Central Bank of Nigeria (CBN) says it is working with law enforcement agencies to arrest and prosecute the purveyors of a “fake” statement on the validity of the old N500 and N1,000 notes.

The apex bank issued the threat in a statement jointly signed by Edward Adamu, deputy governor, corporate services, and Osita Nwanisobi, director of corporate communications, on Tuesday.

TheCable had earlier reported that Aisha, wife of President Muhammadu Buhari, shared a statement which claimed that President Muhammad Buhari has approved the reissuance and release of old N500 and N1,000 notes as legal tender in the country till May.

The statement was alleged to have been released by the CBN but the apex bank later described it as “fake news”.

The CBN insisted that President Muhammadu Buhari’s directive on the old N200 notes still stands.

Buhari, in a televised nationwide address on February 16, had directed the apex bank to recirculate the old N200 notes.

The old N200 is expected to circulate as legal tender till April 10.

“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 Muhammad Buhari has approved the reissuance and release of old N500 and N1000 notes as legal tender in the country,” the statement reads.

“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. Please be guided accordingly.”