The Central Bank of Nigeria (CBN) has dismissed reports that it is considering the withdrawal of the redesigned N200, N500 and N1,000 notes from circulation.
In a statement on Sunday, the apex bank’s Acting Director of Corporate Communications, Isa AbduMumimas described the reports as “unfounded speculation”, noting that there is no plan to phase out the three newly redesigned bank notes.
“The attention of the Central Bank of Nigeria (CBN) has been drawn to a fake news item circulating in the media, particularly in the social media space, suggesting that the Bank is contemplating the withdrawal of the recently redesigned N1000, N500 and N200 currency banknotes from circulation,” the statement partly read.
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