After weeks of silence following the Supreme Court ruling, the Central Bank of Nigeria (CBN) has said that it did not approve the recirculation of old N500 and N1000 notes.
New Telegraph reports that several reports suggested that the apex bank had approved the recirculation of old naira notes till December 31, 2023, as some commercial banks on Wednesday started re-issuing the old naira notes into the system across the country.
The Supreme Court had in a unanimous decision by a seven-member panel of justices on Friday, held that the old banknotes should remain in use until the end of the year.
But reacting to the new development in a statement issued by the CBN Acting Director of Corporate Communications, Isa Abdulmumim declared the report as ‘fake news’
