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.
The apex bank’s Acting Director of Corporate Communications, Isa AbduMumimas in a statement, described the reports as unfounded speculation, noting that there is no plan to phase out the three newly redesigned bank notes.
The statement was a reaction to a viral news on social media that the apex bank was contemplating the withdrawal of the recently redesigned N1,000 N500 and N200 currency banknotes from circulation.