The Central Bank of Nigeria has threatened to investigate, arrest, and prosecute anyone spreading false information about the new naira policy.
This threat was contained in a statement issued on Tuesday by the Central Bank of Nigeria’s Deputy Governor, Corporate Services, Edward Adamu, and Director, Corporate Communications, Osita Nwanisobi.
In response to a purported press release shared on the First Lady’s Instagram page, Aisha Buhari, that said the old N500 and N1000 notes would remain legal tender for the next 70 days, until May 1, 2023, the CBN vowed to track down the source of the release.

The apex bank stressed in the statement that it would only follow the directive of the President, Major General Muhammadu Buhari (retd. ), to re-issue old N200 notes as legal tender until April 10, 2023.
“The Central Bank of Nigeria’s attention has been drawn to an 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,” the statement said.
To avoid confusion, the Central Bank of Nigeria reiterates that, in accordance with Mr. President’s directives, only N200 old notes will be reissued and circulated alongside the new notes.

As a result, members of the public are advised to disregard this fake news.
“The Bank is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news. Please follow my instructions.”