CBN denies phasing out redesigned naira notes

The Central Bank of Nigeria has debunked reports that it planned to phase out the newly redesigned N1,000, N500 and N200 notes.

The Central Bank of Nigeria has debunked reports that it planned to phase out the newly redesigned N1, 000, N500 and N200 notes.

The apex bank clarified that reports on its social media platforms on Sunday in a statement by its Ag. Director, Corporate Communications, Dr Isa AbdulMumim. According to him, such speculation is unfounded and a ploy by some interests to cause panic among members of the public “We wish to reiterate that the new and old currency notes have been circulating side by side just as the Bank has been taking delivery of a good quantity of the redesigned bank notes from the Nigerian Security Printing and Minting Company Limited.

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