CBN refutes receiving presidential orders to reissue old Naira notes

Ayo AdemolaFebruary 21, 2023

Less than a minute

President Buhari alongside CBN Governor Godwin Emefiele, Minister of State Finance, Budget and National Planning Clement Agba, Managing Director of Nigerian Security, Printing and Minting Ahmed Halilu, Chairman ICPC Prof. Bolaji Owasanoye and Chairman EFCC Abdulrasheed Bawa as he presides over FEC and the Launch of the Newly Redesigned Naira Notes in State House on Wednesday.

The Central Bank of Nigeria (CBN) on Tuesday denied receiving presidential orders to reissue the old N200, N500 and N1000 naira notes.

The denial was a reaction to an alleged press statement purportedly from the apex bank circulating on social media.

The press release reads: “Due to the current and unpleasant situation happening in Nigeria, in line with Mr. President after having a close meeting with him on 20th February 2023, Central Bank of Nigeria has been directed to ONLY reissue and recirculate the old N200, N500 and N1000 banknotes and this is expected to circulate as legal tender for 70 days up to May 1, 2023…”

However, tthe Director, Corporate Communication,CBN, Mr. Osita Nwanisobi in a statement said ‘It is fake news’.