May 23, 2024

Buzz News Nigeria

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CBN Denies Plans To Phase Out Redesigned N1000, N500, N200 Notes

The Central Bank of Nigeria (CBN) has denied allegations that it intends to phase out the freshly redesigned naira notes.

This was debunked through a statement on Sunday by its Acting Director, Corporate Communications, Isa Abdulmumin.
In the statement posted on Twitter, CBN stated that speculations about the withdrawal of the new notes is unfounded and a ploy by some interests to cause panic among members of the public.
The apex bank reiterated that the new and old currency notes have been circulating side by side just as the Bank has taken delivery of a good quantity of the redesigned bank notes.
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