Nigeria's First Lady Aisha Buhari Shares 70-day Extension Of Old Notes By The Central Bank Of Nigeria (CBN) - CBN Refutes The Claim

Earlier on today, Tuesday, the president’s wife, Aisha Buhari, shared a statement allegedly issued by the Central Bank of Nigeria (CBN) extending the validity of old N200, N500 and N1,000 notes to May 1, 2023.

The statement release purported that the CBN gave the directive on Tuesday, February 21 after a meeting with President Muhammadu Buhari.

“Due to the current and unpleasant situation in Nigeria, in line with Mr. President, after having a closed meeting with him on the 20th of February, 2023, Central Bank of Nigeria has been directed to only reissue and recirculate the old N200, N500 and N1,000 banknotes and this is expected to circulate as legal tender for 70 days up to May 1, 2023. It read.

“Members of the public should therefore continue to spend the old notes,” the statement read.

However in a reaction to the publication shared by the first lady, the CBN in a statement signed by Nwanisobi, dismissed the report .

The statement reads, “The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorized messages quoting the CBN as having authorized the Deposit Money Banks to collect the old N500 and N1,000 Banknotes. 

The CBN said: “For the avoidance of doubt, and in line with Mr. President’s broadcast of February 16, 2023, the CBN has been directed to ONLY reissue and recirculate the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023.