The National Bank of Nigeria (CBN) has disproved news report (not Initiative) citing a source in that frame of mind as saying that the peak bank has requested business banks to begin tolerating the old N500 and N1000 banknotes.

The national Bank in a proclamation on Friday night said the report was phony and unapproved.

CBN representative, Osita Nwanisobi, said the pinnacle bank rigorously remains by the order of President Muhammadu Buhari that just permits the old N200 note to flow with the upgraded one for a time of 60 days.

“The consideration of the National Bank of Nigeria has been attracted to a few phony and unapproved messages citing the CBN as having approved the Store Cash Banks to gather the old N500 and N1,000 Banknotes.

“For the evasion of uncertainty, and in accordance with Mr. President’s transmission of February 16, 2023, the CBN has been coordinated to Just re-issue and recycle the old N200 banknotes and this is supposed to flow as lawful delicate for 60 days up to April 10, 2023.
“Individuals from people in general ought to hence ignore any message or potentially data not officially delivered by the National Bank of Nigeria regarding this matter.

“Media specialists are encouraged to If it’s not too much trouble, confirm any data from the right sources before distribution,” Nwanisobi expressed.

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