The Central Bank of Nigeria has called the attention of the public to reject reports suggesting a withdrawal of recently redesigned currency from circulation.
Acting Director of corporate communications of the Bank, Dr. Isa AbdulMumim, dismissed the rumour that the regulator was contemplating the withdrawal of the recently -redesigned N1000, N500, and N200 currency banknotes from circulation.
According to the released notice signed by Dr. Isa AbdulMumimon Sunday, April 30, the bank stated that the speculation is a ploy by some people to cause panic among members of the public.
The bank state the old and new notes have been in circulation side by side as they have been taking good delivery of a good quality of the redesigned notes from the Nigerian security printing and Minting Company Limited.
It was also said the bank would remain committed to supplying the approved indent for the smooth running of the economy.
The statement read;
“We wish to state emphatically that 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 quality of the redesigned bank notes from the Nigerian Security Printing and Minting Company (NSPMC) Limited.
“Furthermore, we are committed to supplying the approved indent for the smooth running of the economy.
“We, therefore, urge members of the public to disregard any report suggesting a phase-out of the redesigned currency.
“For the avoidance of doubt, the redesigned and old notes will continue to be accepted as legal tender.
“They will circulate side by side for transactions ahead of the December 31, 2023 deadline, when the old N1000, N500, and N200 banknotes will eventually be phased out. Please be guided accordingly.”