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Sunday, October 1, 2023

CBN Threatens To Arrest Anyone Spreading Fake News About New Naira Design


Central Bank of Nigeria has threatened to investigate, arrest and prosecute anyone spreading fake news about the naira redesign policy.

This was contained in a statement on Tuesday jointly signed by the CBN’s Deputy Governor, Corporate Services, Edward Adamu, and Director, Corporate Communications, Osita Nwanisobi.

The CBN’s reaction follows a purported press release shared on the Instagram page of the First Lady, Aisha Buhari, that said the old N500 and N1000 notes should remain legal tender for the next 70 days, till May 1, 2023.

The CBN reassured Nigerians that it would only abide by the directive of President Muhammadu Buhari to re-issue old N200 notes as legal tender until April 10, 2023.

“The attention of the Central Bank of Nigeria has been drawn to a fake press release purported to have emanated from the Bank to the effect that President Muhammadu Buhari has approved the reissuance and release of old N500 and N1000 notes as legal tender in the country.

“For the avoidance of doubt, the Central Bank of Nigeria reiterates that in line with the directives of Mr. President, only N200 old notes are to be reissued and to circulate concurrently with the new notes.

“Members of the public are, therefore, advised to ignore the fake news.

“The Bank is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news. Please be guided accordingly,” the statement added.

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