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CBN Refute Claim Of Phasing Out New Naira Notes




Speculations that the Central Bank of Nigeria (CBN), is set to phase out the newly introduced N1000, N500, and N200 naira notes have been debunked by the apex bank.

In a statement signed by Isa AbdulMumim, Ag. Director Corporate Communication, the bank tagged the speculation making the rounds on social media as fake news.

According to AbdulMumim, noted that the speculation is unfounded and aimed by some interest to cause panic among members of the public.

Furthermore, the statement noted that while the old and new notes have been operating side by side, banks have been taking delivery of a good quantity of the newly designed notes from the Nigerian Security Printing and Minting Company Limited (NSPMC).

The CBN urged members of the public to disregard the any speculation regarding phasing out the notes.

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