The Central Bank of Nigeria (CBN) has debunked reports circulating in the media that it authorised commercial banks to receive 500 and 1000 notes, describing it as fake.
In a statement released by the apex bank on Friday, February 17, CBN stated that only updates and information it authorises should be taken seriously by members of the public.
While restainting that it would only follow the directive of the president, Muhammadu Buhari, CBN said it would reintroduce and recirculate only 200 notes as legal tender.
It would be recalled that Presiden Buhari, during a national broadcast on Thursday morning, February 16, said both 500 and 1000 notes have ceased to be legal tender.
The president also directed the CBN to reissue the 200 notes to the public to ease the hardship brought upon the masses by the naira redesign policy.
