The Central Bank of Nigeria has declared the claim that it was going to withdraw the redesigned 200, 500 and 1000 notes as false even in the wake of scarcity of the notes in circulation.
With the return of the ‘old notes’ back into circulation in line with the Supreme court’s ruling, there has been scarcity of the redesigned notes prompting several claims that the scarcity is part of plans to withdraw the notes from circulation.
Debunking the rumor via a statement, the acting Director of Corporate Communications, Dr Isa Abdulmumim, noted that the apex bank had no such plan. He added that the new notes, which were introduced by the President on November 23, 2022 still remains a legal tender and should be used in business transaction.
The statement from the CBN notified the public that new notes will circulate alongside the old notes ahead of the December 31st, deadline when the bank will finally withdraw the old 200, 500 and 1000 notes from circulation.
