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Only Old N200 Banknotes Legal Tender, CBN Warns Against Misinformation

CBN clarifies only old N200 banknotes are legal tender, warns against fake news and misinformation.

CBN clarifies only old N200 banknotes are legal tender, warns against fake news and misinformation.

The Central Bank of Nigeria (CBN) has issued a warning to the public to beware of fake news and misinformation regarding the reissuing and recirculation of old banknotes.

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In a recent press release, the CBN clarified that only the old N200 banknotes will be considered legal tender, in line with the directive from the President’s recent broadcast on February 16, 2023.

The CBN has stressed that it has not authorized any Deposit Money Banks to collect old N500 and N1,000 banknotes. The public is urged to disregard any messages or information not formally released by the CBN on this subject.

Media practitioners are advised to verify any information from credible sources before publication. The CBN also reminds the public that the reissuing and recirculation of old N200 banknotes is expected to continue for 60 days, up to April 10, 2023.

In light of this announcement, individuals and businesses are encouraged to familiarize themselves with the policy on old banknotes, and to only accept and use legal tender as specified by the CBN. Failure to do so could result in financial losses or penalties.

In summary, the CBN warns against misinformation and urges the public to only rely on official communications from the CBN regarding old banknotes. By following these guidelines, individuals and businesses can ensure they are in compliance with legal tender policy and avoid potential issues.

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Source: MandyNews.com

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𝙈𝙖𝙣𝙙𝙮 𝙉𝙚𝙬𝙨 𝙞𝙨 𝙮𝙤𝙪𝙧 𝙧𝙚𝙡𝙞𝙖𝙗𝙡𝙚 𝙨𝙤𝙪𝙧𝙘𝙚 𝙛𝙤𝙧 𝙩𝙝𝙚 𝙡𝙖𝙩𝙚𝙨𝙩 𝙣𝙚𝙬𝙨, 𝙚𝙣𝙩𝙚𝙧𝙩𝙖𝙞𝙣𝙢𝙚𝙣𝙩, 𝙨𝙥𝙤𝙧𝙩𝙨, 𝙖𝙣𝙙 𝙡𝙞𝙛𝙚𝙨𝙩𝙮𝙡𝙚 𝙪𝙥𝙙𝙖𝙩𝙚𝙨 𝙛𝙧𝙤𝙢 𝙖𝙧𝙤𝙪𝙣𝙙 𝙩𝙝𝙚 𝙬𝙤𝙧𝙡𝙙. 𝙒𝙚 𝙖𝙧𝙚 𝙙𝙚𝙙𝙞𝙘𝙖𝙩𝙚𝙙 𝙩𝙤 𝙙𝙚𝙡𝙞𝙫𝙚𝙧𝙞𝙣𝙜 𝙖𝙘𝙘𝙪𝙧𝙖𝙩𝙚, 𝙪𝙥-𝙩𝙤-𝙙𝙖𝙩𝙚, 𝙖𝙣𝙙 𝙚𝙣𝙜𝙖𝙜𝙞𝙣𝙜 𝙘𝙤𝙣𝙩𝙚𝙣𝙩 𝙩𝙤 𝙠𝙚𝙚𝙥 𝙮𝙤𝙪 𝙞𝙣𝙛𝙤𝙧𝙢𝙚𝙙 𝙖𝙣𝙙 𝙞𝙣𝙨𝙥𝙞𝙧𝙚𝙙. 𝙁𝙤𝙡𝙡𝙤𝙬 𝙪𝙨 𝙤𝙣 𝙨𝙤𝙘𝙞𝙖𝙡 𝙢𝙚𝙙𝙞𝙖 𝙛𝙤𝙧 𝙩𝙝𝙚 𝙡𝙖𝙩𝙚𝙨𝙩 𝙪𝙥𝙙𝙖𝙩𝙚𝙨.

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