CBN To Arrest, Prosecute Anyone Spreading Fake News Over New Naira

The Central Bank of Nigeria (CBN) says it is working with intelligence and security agencies to arrest and prosecute purveyors of fake news that the bank is reissuing and recirculating old N500 and N1000 notes.

The apex bank disclosed this on Tuesday shortly after first lady, Aisha Buhari, shared the fake news that the CBN had been directed by her husband, President Muhammadu Buhari, to reissue and recirculate old “N200, N500 and N1000 notes”

“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 reissuance and release of old N500 and N1000 notes as legal tender in the country.

“The Bank is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news,” the apex’s statement reads.

The apex bank further said “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.”

Mrs Buhari, an ally of the All Progressives Congress (APC) presidential candidate, Bola Tinubu, shared a fake press release attributed to CBN on her Instagram page on Tuesday.

The post has now been deleted. Her spokesperson, Suleman Hassan, however, told Peoples Gazette that he is unaware of the development.

“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,” the fake press release read.

Mrs Buhari sharing fake news comes a week after Festus Keyamo, APC Presidential Campaign Council (PCC) spokesperson, was called out for stealing a Chicago festival photo to portray Mr Tinubu’s campaign.