The Central Bank of Nigeria (CBN) has denied asking commercial banks to start collecting old N500 and N1,000 Naira notes from the public.
The CBN said this in reaction to earlier news making the rounds that it has directed commercial banks to start collecting the old naira notes.
According to the CBN, the news making the rounds that it has directed deposit money banks to start collecting old naira from the public is false.
According to the CBN statement, in the statement signed by the Director, Corporate Communications Department of the CBN, Mr Osita Nwanisobi, the news making the rounds is pure fake.
” The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorize messages quoting the CBN as having authorized the deposit money banks to collect the old N500 and N1000 bank notes.
PRESS RELEASE pic.twitter.com/AXkUlDGjx7
— Central Bank of Nigeria (@cenbank) February 17, 2023
“For the avoidance of doubts, and in line with Mr President’s broadcast of February 16, 2023, the CBN has been directed to ONLY reissue and recirculate the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10th, 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.”
Meanwhile, in an earlier news making the rounds, a source claimed by The Punch, said alleged that the CBN had asked the commercial banks to start collecting old naira notes.
The source said, following President Buhari’s latest directives for the N200 naira notes to come back into circulation, the CBN has not only complied but has equally ordered banks to start accepting N500 and N1000 naira notes from the public who still had the old notes.
Explaining the processes involved in going to change the old naira at the CBN, the source said the processes involves filling a form.
READ Full Details Here: Breaking News: CBN Asks Banks To Start Accepting Old N500, N1000 Naira Notes From Public
the CBN source told the Punch that the CBN has ordered commercial banks to start collecting the old notes from the public withy immediate effect.
However, the source added that anybody taking their old notes to bank must first fill out a form on the CBN portal before approaching their respective banks to change their old naira notes.
“Go to your bank but fill out the form before you go. Go with the reference code you generate. With your code, banks will collect it from you. But if it is more than 500,000, you will go to the CBN and deposit it.”
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