CBN hasn’t ordered politicians to give old banknotes to ‘poor masses’

The Central bank of Nigeria unveiled the redesigned currency notes, to presidential fanfare.

The Governor of Central Bank, Godwin Emefiele announced the redesign of the N200, N500 and N1,000 notes on 23 November 2022.Information Guide Nigeria

AFRICA CHECK reports that a claim circulating on Facebook in Nigeria reads: “CBN orders politicians to release all old Naira notes stock in their houses to the poor masses or risk loosing it all in 24 hours.”

But has the central bank ordered politicians to release their old naira notes to the “poor masses” in 24 hours, or risk forfeiting them?

In a document on its website, the central bank provides answers to various questions about the Naira redesign. It says that all old currency notes should be deposited in banks.NYSC portal

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Also, on 20 January, the bank tweeted a graphic on its verified Twitter handle counting down to the 31 January deadline.

“A reminder to the general public that the old series of N200, N500 and N1000 notes cease to be legal tender by January 31, 2023. You are advised to return them to your bank before the deadline!”.

However, it does not warn politicians that they could lose their money.

AFRICA CHECK reports that they are yet to verify the claims on the Facebook post as at the time of writing this report.JAMB Result

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