The Central Bank of Nigeria (CBN) has denied a news report quoting a bank source as saying the apex bank has ordered commercial banks to begin accepting the old N500 and N1000 banknotes.
In a statement issued Friday evening, the Central Bank stated that the report was false and unauthorized.
According to CBN spokesman Osita Nwanisobi, the apex bank strictly adheres to President Muhammadu Buhari’s directive, which allows the old N200 note to circulate alongside the new one for 60 days.
“The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorized messages quoting the CBN as having authorized the Deposit Money Banks to collect the old N500 and N1,000 Banknotes.
“For the avoidance of doubt, and in line with Mr. President’s broadcast of February 16, 2023, the CBN has been directed to ONLY re-issue and recirculates the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023.
“Members of the public should therefore disregard any message and/or information not formally released by the Central Bank of Nigeria on this subject.
“Media practitioners are advised to PLEASE verify any information from the correct sources before publication,” Nwanisobi stated.
See the tweet:
PRESS RELEASE pic.twitter.com/AXkUlDGjx7
— Central Bank of Nigeria (@cenbank) February 17, 2023
Latifat Fashina 
Peter Oluka