NAIRA SCARCITY: CBN DEBUNKS REPORTS INSTRUCTING DMBs TO COLLECT N500, N1000 NOTES

In a Press Statement released on its official Twitter handle, the Central Bank of Nigeria (CBN) has debunked the news circulating on the media space that it ordered deposit money banks (DMBs) to collect the old N500 and N1000 notes that have ceased to be legal tender.

Economy Feb 17, 2023 0 280 Add to Reading List

NAIRA SCARCITY: CBN DEBUNKS REPORTS INSTRUCTING DMBs TO COLLECT N500, N1000 NOTES

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In a Press Statement released on its official Twitter handle, the Central Bank of Nigeria (CBN) has debunked the news circulating on the media space that it ordered deposit money banks (DMBs) to collect the old N500 and N1000 notes that have ceased to be legal tender.

For the avoidance of doubt, the CBN said it only ordered the DMBs to reissue and recirculate the old N200 notes for another 60 days (April 19, 2023) in accordance with the directive by President Muhammadu Buhari's broadcast of February 16, 2023.

Find attached below the PRESS RELEASE.