We Have Not Directed Commercial Banks To Accept 500,1000 Notes—CBN

We Have Not Directed Commercial Banks To Accept 500,1000 Notes

OpenLife Nigeria reports that the Central Bank of Nigeria, CBN has denied the news in circulation directing commercial banks to accept 500, 1000 bank notes.

The CBN said it was only asked to reissue and recirculate the old N200 notes, adding that it did not authorise deposit money banks to collect the old N500 and N1,000 banknotes as being speculated.

Hours after news was circulated on Friday that such order was given, CBN’s Director of Corporate Communications, Osita Nwanisobi, urged the public to disregard the news.

The bank said it was only asked to reissue and recirculate the old N200 notes.

The CBN advised the public to disregard any message and/or information not formally released by the bank on this subject.

It also advised media practitioners to endeavour to verify any information from the correct sources before publication.