CBN Vows To Crackdown On Anyone Spreading Fake News On New Naira

Amidst the growing tensions in the country triggered by the scarcity of naira notes, the Central Bank of Nigeria has threatened to investigate, arrest and prosecute anyone spreading fake news about the naira redesign policy.

This is contained in a statement jointly signed by the CBN’s Deputy Governor, Corporate Services, Edward Adamu, and Director, Corporate Communications, Osita Nwanisobi on Tuesday.

The CBN in reaction to a purported press release shared on the Instagram page of the First Lady, Aisha Buhari, that said the old N500 and N1000 notes should remain legal tender for the next 70 days, till May 1, 2023, vowed to fish out the purveyor of the release.

In the statement, the apex bank stressed that it would only abide by the directive of the President, Major General Muhammadu Buhari (retd.) to re-issue old N200 notes as legal tender until April 10, 2023.
The statement read in part, “The attention of the Central Bank of Nigeria has been drawn to a FAKE PRESS RELEASE purported to have emanated from the Bank to the effect that President Muhammadu Buhari has approved the reissuancissuancease of old N500 and N1000 notes as legal tender in the country.

“For the avoidance of doubt, the Central Bank of Nigeria reiterates that in line with the directives of Mr. President, only N200 old notes are to be reissued and to circulate concurrently with the new notes. Members of the public are therefore advised to ignore this fake news.

“The Bank is working with the law cement agencies to investigate, apprehend and prosecute the purveyors of this fake news. Please be guided accordingly.”


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