UPDATED: CBN debunks directing banks to collect old N500, N1000 notes

Amidst the cash crunch ravaging the country, the Central Bank of Nigeria (CBN) has debunked ordering Deposit Money Banks to collect old N500 and N1,000 notes from customers.

Reports doing the rounds on social media claimed Nigerians have been told to deposit their old N500 and N1000 notes to banks.

In a rebuttal statement obtained by TRIBUNE ONLINE Friday, the apex Bank said the public should disregard the “fake news”.

Recall many Nigerians in the wee hours of Friday stormed the CBN offices and demanded that the CBN should collect their old notes.