According to the fake circular, the apex court intended to make all the old Naira Notes as legal tenders until May 1, 2023.
Nigeria’s First Lady, Aisha Buhari, on Tuesday morning shared a fake press release on her verified Instagram page, purporting that the Central Bank of Nigeria had authorised the recirculation of N500, N1,000 old Naira notes.
According to the fake circular, the apex court intended to make all the old Naira Notes as legal tenders until May 1, 2023.
The fake circular, shared by Buhari, read, “Due to the current and unpleasant situation happening in Nigeria, In line with Mr. President. After having a closed meeting with him on the 20th of February, 2023, Central Bank Of Nigeria (CBN) has been directed to ONLY reissue and recirculate the old N200, N500 and N1000 banknotes and this is expected to circulate as legal tender for 70 days up to May 1, 2023. Members of the public should therefore continue to spend the old notes.
“Media practitioners are advised to PLEASE spread out this helpful information to the public.”
Reacting to this, the Central Bank in a statement released by Osita Nwanisobi, Director, Corporate Communications Department Central Bank of Nigeria described the earlier statement released by the First Lady as false.
The statement reads: “The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorized messages quoting the CBN as having authorized the Deposit Money Banks to collect the old N500 and N1,000 Banknotes. For the avoidance of doubt, and in line with Mr. President's broadcast of February 16, 2023, the CBN has been directed to ONLY reissue and recirculate the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023. Members of the public should therefore disregard any message and/or information not formally released by the Central Bank of Nigeria on this subject.
“Media practitioners are advised to PLEASE verify any information from the correct sources before publication.”
PLEASE BE WARY OF FAKE NEWS! pic.twitter.com/EZc6ygua3u
— Central Bank of Nigeria (@cenbank) February 21, 2023
Meanwhile, SaharaReporters gathered that the reason for Aisha’s action may not be unconnected to her attempt to impress the ruling All Progressive Congress (APC) presidential candidate, Bola Tinubu.
Sources said the First Lady might have been promised some compensation to warrant her unprovoked error of sharing false information to favour Tinubu’s emergence in the Saturday polls.