CBN Speaks On Viral Report Of Planning To Stop New N1000, N500, N200 Notes

Back To Homepage Subscribe To RSS Feed

Breaking News

Breaking: Nigerians Condemn Shell’s Plot to Smear Aiteo ...
Emir of Kano’s Deposition: Why Former Access Bank MD, Aig-Imoukhuede, is the Worst Hit He is not the flash friend, the one everyone wants to copy and follow around. Rather, Aigboje Aig-Imoukhuede, the former MD/CEO of Access Bank Plc, is the raw, loyal and...
OMSL to the Rescue…How the Nigerian Company Rescued Chinese Vessel from Pirate Attack When duty called recently, Ocean Marine Solutions Limited, OMSL, saved Nigeria from what would have been a monumental international embarrassment. According to a news report on the website of Fleetmon,...
So Sad… How Coronavirus has Hampered the Nigerian, London and Dubai Socio-Economic Milieu • Why Obasanjo, Others Cancelled Parties The list is swelling by the hour of the global companies which have been having grueling experience since the outbreak of the Coronavirus also...
Femi Otedola Wins African Person of the Year Once again, Africa’s force of nature, billionaire Femi Otedola has been honoured for his philanthropic activities on the continent. He was presented with the African Person of the Year award...

CBN Speaks On Viral Report Of Planning To Stop New N1000, N500, N200 Notes

May 01

12:38 2023

Print This Article Share it With Friends

by Mujeeb 0 Comments

The Central Bank of Nigeria (CBN) says no plans to phase out the redesigned Naira notes from circulation.

CBN’s Acting Director, Corporate Communications Department, Isa Abdulmumin, made this known in a statement in Abuja on Sunday.

The statement was a reaction to a piece of viral news on social media that the apex bank was contemplating the withdrawal of the recently redesigned N1,000 N500 and N200 currency banknotes from circulation.

“We wish to emphatically state that such speculation is unfounded and a ploy by some interests to cause panic among members of the public.

“The new and old currency notes have been circulating side by side.
“The CBN has been taking delivery of a good quantity of the redesigned banknotes from the Nigeria Security Printing and Minting Company Limited,” he said.

Mr Abdulmumin said the CBN was committed to supplying the “approved indent” for the smooth running of the economy.

“We, therefore, urge members of the public to disregard any report suggesting a phase-out of the redesigned currency.